Designer outlet mall operator posts robust growth in China| April 01, 2024

Maurizio Lupi, CEO of Florentia Village, Lupi said that the company will expand the third phase of Shanghai's village since all stores there have been rented out as its seven villages in China attracted over 25 million customers in 2023, a nearly 30 percent increase in footfalls.

"Our performance has been very successful over the last few years despite the COVID-19 pandemic. We have had consistent growth all over the Florentia villages in China …This is an amazing journey that we have had in China since 2011,” Lupi said. A unit of Italian luxury real estate developer and fashion retailer RDM Group, the seven villages in China cover a total of over 500,000 square meters, with over 300 international and domestic brands providing consumers with discounts of up to 80 percent. In China, its villages are present in Shanghai, Tianjin, Chongqing, Chengdu in Sichuan province, Foshan in Guangdong province, Ezhou in Hubei province, and the Hong Kong Special Administrative Region. As of end-February, the total membership of Florentia Village had exceeded 5 million. Sales recorded in the villages increased by nearly 50 percent to more than 13 billion yuan ($1.8 billion) last year, Lupi said. “The Chinese market is a super important, growing, and young and energetic market," Lupi said. "We will keep investing and enlarging our centers, because the requests from both international and Chinese brands are becoming stronger."