European discount outlet to open in Suzhou
Value Retail, one of Europe’s biggest discount outlet chains, will open its first luxury outlet in Suzhou, Jiangsu province, next month, with another five under discussion and construction.
The chain will offer more than 100 luxury brands — at a 40 percent to 50 percent discount off regular retail prices — in the first phase of the complex starting May 15, with more to come after its grand opening in October.
With hundreds of outlets spreading across the country, there are concerns about an outlet surplus. Some outlets in Qingdao, Chongqing and Ningbo were forced to shut down after operating for only one or two years.
But Desiree Bollier, CEO of Value Retail, Bollier said she isn’t worried. “There are so many hotels, but only the best one stands out,” she said. “So it works for the outlets.”