SHANGHAI — Value Retail’s opportunity in China lies in capturing emerging middle- and upper-class consumers who are seeking access to luxury goods but are not yet able to afford full-priced products in high-street stores, Burt Tansky, vice chairman of Marvin Traub Associates and the former chairman and chief executive officer of the Neiman Marcus Group, said while on a trip here this week.
Tansky is a strategic adviser to Value Retail, the developer of the nine Chic Outlet Shopping Villages in Europe, which is also developing two outlet malls in China. Suzhou Village, the first location near Shanghai, had its soft opening in May and will have its grand opening in October. The second property, Shanghai Village, is located on the now-under-construction site of the Shanghai Disney Resort and will open next fall.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)