YCH Group -- an integrated end-to-end supply chain management and logistics company in Asia Pacific -- has launched its retail hub in Xiamen, China in an effort to support the Pilot Free Trade Zone project in the city.
To be fully operational from today (15 December 2016), the four-storey facility aims to cater to the burgeoning Chinese retail scene. According to eMarketer's latest findings, China has overtaken the U.S. to become the world's largest retail market, with total sales of US$4.886 trillion this year.
The retail hub will also play a key role to strengthen the status of Xiamen as one of the most popular tourist destinations in China. Xiamen Tourism Bureau revealed on 7 October 2015 that Xiamen received 1.63 million tourists from home and abroad, and raked in 1.853 billion RMB in tourism revenue last year.
"With the dynamic and growing retail sector in the country, we want to equip retailers with game-changing capabilities that help them simplify processes and optimise costs. This will enable them to remain competitive while simultaneously boosting trade and facilities investment for China with the Pilot Free Trade Zone," said Koh Yong Seng, Operations Director of North Asia, YCH Group.
The mall, which used to be Xiamen Port Development- YCH Logistics' warehouse, is strategically located within the Pilot Free Trade Zone. It is in close proximity to both air and sea ports, as well as numerous famous hotels.
Sam's Club and Red Star Macalline will be the mall's first two anchor tenants, occupying about 85 percent of the facility.
Sam's Club is a division of Wal-Mart, which offers an extensive inventory with exceptional value on famous-brand merchandise at "member only" prices for both business and personal use.
Meanwhile, Red Star Macalline targets the rapidly growing middle class in China through the operation of malls that offer home improvement and furniture materials, including flooring, bathroom and kitchen fixtures, with approximately 18,000 well-known brands.
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