Itochu Fashion System will cooperate with Shanghai Hezhi Trade Development Company to open a Hezhi Department Store in Pudong, Shanghai this October.
This is the first time that Itochu has set foot in the department store industry in China. With a total business area of over 30000 sqm, Hezhi will mainly sell Japanese brands.
Zheng Zifan, assistant manager of Hezhi Trade, says they own 51% of the project.
During the cooperation, IFS will not only provide the investment, but also take charge of introducing Japanese clothing brands into China and training the staff.
Itochu is a global retailing corporation with branches in over 80 countries.