Wanda Department Store's new brand launch ceremony was just held in Beijing and Wanda Group announced that Wanqian Department Store was formally renamed to Wanda Department Store.
At present, there are about 40 Wanqian Department Stores across China and all these department stores have completed the change of store name and signage.
Ding Yao, general manager of Wanda Department Store, said at the launch ceremony that the new name is a strategic decision of Wanda Group. The Wanda brand has a high recognition and the move can integrate Wanda's resources to provide consumers with more complete and quality services. Over 24 years' development, Wanda Group has become a leading private company in China. It apparently has great reputation and awareness in the Chinese market and has formed good brand value.
Under Wanda Department Store's new brand strategy, its stores will be divided into four modes, including luxury stores, boutique stores, fashion stores, and community lifestyle stores. The positioning of each Wanda Department Store will be closely related to the local market to meet the demands of consumers in different areas around China.
Founded in 2007, Wanqian Department Store previously developed 40 outlets across China. According to the plans of Wanda Group, Wanda Department Store will have 110 outlets by 2015.