Business Intelligence on Retailing, Franchising, and Consumerism in China

Septwolves Purchases Entire Business Street

Septwolves Group, one of the most famous men's clothing makers in China, has bought all the 211 stores of Xinmen Street, a main business street in Quanzhou, Fujian Province.

Xinmen Street was reconstructed in the 1990s and is one of the main business streets of Quanzhou. Though the street changed its business range four times, the business there latesly is rather depressed. In order to liquidate state-owned assets and to promote the development of Xinmen Street, from 2007, the city government started a public one-off sale of all the 211 stores in the street. Septwolves Group got the purchase rights in April 2007 and bought the street for more than RMB100 million to develop it into a fashion business street.

The project reportedly will be 800-meter long and it will focus on shopping, leisure, culture and entertainment. There will be five major areas in the street, which are cultural area, fine food area, fashion area, garment and accessory area and leisure area.

To ensure the successful management of the project, Septwolves Group establishes a special managing company, employs famous consulting agency for business estate and invites high-ranking sight designing company to develop the street into a topping business street in Quanzhou or even in Fujian Province. The most important is that all the stores will be "only for rent", which means they will not be sold. Septwolves Group will be the only holder of those stores.

Be the first to comment on "Septwolves Purchases Entire Business Street"

Leave a comment

Your email address will not be published.


  Other China News

Uber Drives Chinese Operating Center To Wuhan

Letv Buys 20% Stake In Sports Group

Alibaba's E-commerce Platform Continues Growth

Microsoft Azure Inks Cloud Computing CAAS Deal With


U.S. Clean Water Company Makes Chinese Inroads

GE Will Promote Wind Power Through New Chinese Education Center

Hong Kong Now Requires Ships To Use Cleaner Fuel

Beijing Power Plant Works With American Firm To Reduce Emissions

Marvell To Cut Nearly 800 Employees In China

Infineon To Invest USD300 Million For New Wuxi Plant

Postponed Phone Shipments Don't Dent Asus Operating Revenue

Letv Targets Chongqing For New Industrial Base