Florentia Village reports stable revenue growth and recovery in visitor numbers across mainland China outlets during Labor Day Holiday

SHANGHAI, May 10, 2023 /PRNewswire/ -- Florentia Village, the authentic Italian outlet brand owned and operated by RDM Asia, today announced that visitor numbers and revenue increased at its outlets during the China Labor Day Holiday from April 28 to May 3, pointing to overall stable growth in the market. Total visitor numbers and revenue at Florentia Village outlets in mainland China increased by more than 130% compared with the 2022 Labor Day Holiday. Among its six mainland China outlets, Florentia Village Beijing-Tianjin saw the biggest year-on-year increase in revenue and visitor numbers, with outlets in Chongqing, Chengdu, Shanghai, Guangzhou-Foshan, and Wuhan showing steady momentum and growth. Following a strong start to the year, which saw a significant recovery in business during the Spring Festival, Florentia Village continues to see positive growth in the market and is gearing up for more strong results in the second half of 2023.

Helping to contribute to the strong performance throughout the five-day Labor Day Holiday were a series of activities and experiences hosted at Florentia Village outlets as part of its 2023 'To Love, Together' sustainability initiative. As the first program under this initiative, Florentia Village partnered with the 'Star Bunny Love' Children's Mental Health Care Action to support children with autism and promote sustainability, bringing elements of the charity's iconic Bonnie Rabbit character to all six Florentia Village outlets to liven the festive atmosphere. Each village also put on its own series of immersive experiences for visitors, including live music performances, parades, and magic shows. Alongside the added entertainment, visitors enjoyed discounts, point redemption programs, lucky draws, and other benefits provided my many of the world-famous brands at the outlets. 

Thanks to these fresh experiences and attractive brand offers, overall business performance at Florentia Village grew steadily during the holiday, reflecting the continued strength of the business. Florentia Village Beijing-Tianjin was the strongest performer among the six mainland China outlets, reporting an over 100% increase in revenue and an over 150% increase in visitor numbers compared with the same period in 2022. Revenue and visitor numbers also grew steadily at Florentia Village outlets in Guangzhou-Foshan and Wuhan, including an over 50% year-on-year rise in revenue at Florentia Village Guangzhou-Foshan. At Florentia Village outlets in Chengdu and Chongqing, revenue and visitor numbers both showed double-digit increases compared with the same period last year. Florentia Village Wuhan reported an over 130% year-on-year rise in visitor numbers. Florentia Village Shanghai posted strong momentum this year with rise in both revenue and visitor numbers, which was higher than its previous record. With clear growth in visitor numbers at all six mainland China Florentia Village outlets, China's retail market continues to show signals of a strong recovery.

Florentia Village owner, Italian commercial real estate group RDM, celebrates twelve years in the China market this year, at a time in which the outlet industry is undergoing a series of challenges and opportunities. Jacopo De Vena, Managing Director of Florentia Village and RDM Asia said, 'In response to the evolving market conditions, Florentia Village will continue to innovate its offerings and continue to lead the international outlet industry in China by growing its position through ongoing investment in digital and online channels and the creation of more immersive and engaging offline experiences as it leads industry trends towards an omni-channel online and offline business model. We target to reach over RMB 13 billion with overall sales, and foot traffic projected to reach 26 million in this year.'

'Florentia Village is confident in the Chinese market, which has great potential for the future with its booming economy, increasingly diverse and dynamic social structure, rich tourism resources and expanding purchasing power.' Maurizio Lupi , CEO of the Florentia Village and RDM Asia said, 'Florentia Village is also strengthening cooperation with brands to bring new experiences and more benefits to consumers. In the future, we will also continue to expand its brand matrix and further expand its footprint in the Chinese market, providing more consumers with one-stop Italian leisure shopping space and quality new retail experience, deepening an active and sustainable lifestyle, and becoming a leading international outlet brand in China.'

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 combining plazas, galleries, fountains and monumental buildings to deliver a one-of-a-kind shopping environment. Florentia Village carries more than 300 renowned brands from Europe, the United States and Asia at a year-round discount of up to 80% off.

Thanks to RDM's extensive network of contacts within the global retail community, the storefronts are leased to the most prestigious luxury fashion brands in the world. To date, Florentia Village has achieved a combined total leasing area of 500,000m2 with 1,200 total shops. In 2022 alone, Florentia Village outlets in China attracted more than 20 million visitors, and that number is projected to increase by 31% in 2023. As the leading international designer outlet in Asia, Florentia Village brings an unparalleled Italian style and shopping experience to the region.

Official website: www.florentiavillage.com

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SOURCE Florentia Village