After the entry of Hongcheng Building and Hongkelong, another large department store brand Rainbow Department Store will open a new outlet in Nanchang's Honggu Beach.
The new Honggu project of the Rainbow Department Store Company, which has gained the approval of Nanchang City, will be located in the Seattle International Center of Honggu Beach, occupying the first three floors of the building. Rainbow Department Store will invest CNY51.1 million in this project, which has a leasing construction area of about 20,000 square meters.
Established in 1984, the Rainbow Department Store Company is a joint venture that mainly focuses on the retail business. It opened first outlet in Nanchang in 2002 and in October of the same year, the company opened another department store on Nanjing East Road of the city. In September 2007, it opened the city's third Rainbow department store on Zhongshan Road. By the end of 2007, the Rainbow Department Store Company owned 28 directly-managed department stores and one franchise department store in such Chinese cities as Shenzhen, Dongguan, Huizhou, Fuzhou, Xiamen, Nanchang, and Jiaxing.