Since entering the market with Florentia Village Beijing-Tianjin in 2011, the Italian luxury designer outlet brand has expanded to seven outlets in Greater China, serving 25 million customers this year.
SHANGHAI, May 31, 2021 /PRNewswire/ -- Leading Italian luxury designer outlet Florentia Village will celebrate its 10th year anniversary on June 12 since its official entry into the China market and the opening of its first China outlet, Florentia Village Beijing-Tianjin in 2011. Within the space of a decade, Florentia Village has grown to include seven outlet malls, a comprehensive e-commerce platform, and a loyalty member program, creating a holistic retail platform that is projected to attract 25 million customers this year. Renowned for its one-stop authentic Italian retail experience and portfolio of luxury brands, Florentia Village has pioneered the outlet business model in China and will continue to drive the market forward with a US$300 million development pipeline and continued focus on creating an omni-channel retail experience.
Florentia Village is founded by Italian real estate development group RDM. The arrival of the brand brought with it China's first authentic Italian luxury outlet inspired by classic Italian architecture and kick-started the outlet industry in mainland China following RDM's previous success with the retail model in Italy. Through the brand's continued strong performance and expansion, Florentia Village has grown to include a further six outlets in mainland China, located in Shanghai, Guangzhou-Foshan, Wuhan, Hong Kong, Chengdu and Chongqing, through which it operates a total leasing area of 300,000m2 comprising a total of 1,200 shops. With its comprehensive retail-tainmnent offering, Florentia Village is home to over 300 leading designer brands, in addition to leisure facilities such as its Family Entertainment Centers in Guangzhou-Foshan, Wuhan, Chengdu, Chongqing and later at Shanghai Phase II project this year, creating a one-stop destination for 25 million projected visitors this year alone.
As Florentia Village's first outlet in China, Florentia Village Beijing-Tianjin set the stage for the brand's success in the market. This strong performance has continued throughout the past decade, with the outlet recording particularly strong sales and traffic growth in the past 3 years, as well as consistently ranking within the highest out of all 216 outlets nationwide in terms of sales value. With over 300 brand stores, Florentia Village Beijing-Tianjin hosts most of the world's renowned luxury brands, such as Prada, Gucci, Burberry, Saint Laurent, Fendi, Loewe, Bottega Veneta, Moncler together with the exclusive brand outlet stores such as Bvlgari, Balenciaga, Alexander McQueen, Thom Browne, Roger Vivier, Christian Louboutin and Estee Lauder in China.
"From day one, we have always strived to deliver a unique luxury experience that stays true to our own Italian heritage, providing the best in luxury brands, entertainment and Italian culture." said Mr. Jacopo De Vena, Managing Director of Florentia Village and RDM Asia. "As we've grown alongside the market in these ten years, so has our offering to consumers. We are always committed to making Florentia Village a one-stop destination for lifestyle, shopping and tourist, catering to the needs of different kinds of audience. Likewise, online and omni-channel new retail have become important pillars of our business as we work to create the ultimate experience for today's consumer."
Florentia Village's investments in its online business have proved just as successful as its offline business following the company's official entry into the e-commerce market with the launch of FVSHOP.com in 2018. Hosting online stores for world-famous brands, the platform brings convenience to shoppers from regions where there are no physical brand outlets, in addition to offering exclusive discounts and offers for consumers nationwide. This e-commerce platform is augmented by other digital offerings, including the Florentia Village WeChat Miniprogram and loyalty program, the latter of which currently has over 2.2 million members, representing between 40 and 50% of turnover, and continues to see membership numbers grow by 8,000 per week.
Helping to drive traffic to these platforms and Florentia Village's offline locations is a comprehensive localized digital program that sees the brand regular engage with leading digital media, influencers, mobile apps and other partners. Through its more than 15 social media accounts, including individual WeChat accounts for its seven outlets, a dedicated member WeChat account, TikTok, RED, Facebook, Instagram accounts and more, Florentia Village engages with both domestic and international audiences, leveraging big data where possible to deliver a holistic, omni-channel experience to shoppers.
"The first ten years have been extremely important for us to prove the success of our authentic Italian retail concept, and we believe the next ten years will be just as important as we evolve this concept and bring it to even more consumers." said Mr. Maurizio Lupi, CEO of Florentia Village and RDM Asia, "The continued expansion of the Chinese middle class and their pursuit of a high quality of life presents huge potential for the market, and our ambition is to become the leading international luxury designer outlet in China."
As it reaches its 10-year milestone, Florentia Village remains as committed as ever to developing the outlet and retail market in China as the country's premier luxury designer outlet brand. Alongside the recently-opened Florentia Village in Chongqing, Phase II expansion programs at Florentia Villages in Chengdu and Shanghai are due to open this year. The group's investment pipeline also includes Phase II projects at Florentia Villages in Wuhan and Chongqing, a Phase III project in Chengdu, a Phase V project in Beijing-Tianjin.
"From one outlet and 80 brands in 2011, to seven outlets and 1,200 stores today – the last decade has been a true success story for Florentia Village, the Chinese retail industry and the country's luxury consumers," said Mr. Jacopo Mazzei, Chairman and CEO of Florentia Village and RDM. "Our commitment to expanding our portfolio of outlets here is stronger than ever, with USD300 million to invest in our development pipeline. We expect the overall sales will achieve USD2 billion next year. As a true testament to just how successful we believe this brand is, we are also looking to grow our footprint throughout Asia so that we can bring the unique Florentia Village experience to more consumers in more markets."
ABOUT FLORENTIA VILLAGE
Florentia Village is China's renowned Italian designer outlet under the Italian real estate development group, RDM. Florentia Village was first launched in 2011 and currently has a total of seven outlets across Greater China, located in Hong Kong, Tianjin, Shanghai, Guangzhou, Wuhan, Chengdu and Chongqing. The outlets' distinctive Italian architecture recalls Florence, Rome and the Renaissance Age by combing plazas, galleries, fountains and monumental buildings to deliver a one of a kind shopping environment. Florentia Village carries over 300 renowned brands from Europe, United States and Asia at a year-round discount of up to 80% off.
Through RDM's extensive network of contacts within the global retail community, the stores are leased to the most prestigious luxury fashion brands. To date, Florentia Village has achieved a combined total leasing area of 300,000m2, a total of 1,200 shops, and has attracted close to 20 million visitors in 2020, with a projected 25% increase annually. As the leading international designer outlet in Asia, Florentia Village brings an unparalleled Italian style and shopping experience to the region.