SHANGHAI — Previously a black hole in China’s retail space, multibrand retailers are beginning to make their mark in the Middle Kingdom.
Monobrand stores in shopping malls still dominate the luxury goods market in China, but that is noticeably changing. Over the past few months, Lane Crawford and 10 Corso Como have opened flagships in Shanghai, while Galeries Lafayette has returned to Beijing on a mission to be Mainland China’s first true department store. But this string of openings is just the latest example of China’s embrace of multibrand retailing. A plethora of independent multibrand boutiques have been popping up in China’s first-tier cities over the past few years.
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