Shanghai Mart, which brings together large-scale international retailers such as Wal-Mart and TESCO, is brewing a new fashion center. This is the information that the mall's top executives revealed during the Shanghai Fashion Culture Festival.
It is understood that the World Trade Center, which once owned China's first and the largest international professional exhibition market in Asia, has begun to build some fashion areas. “The company has built a fashion designer valley and plans to introduce 30 to 40 master studios by the end of this year. Not only that, but the 7th floor area will also create a fashion release center to build a permanent show. The mall will also focus on the exhibition of high-end jewellery, high-end art and other fashion luxury goods.†Tian Hao, general manager of the mall, said, “This stems from the gradient theory in the development of manufacturing. China’s textile and apparel industry has begun from the beginning. The OEM phase gradually entered the DEM phase. The global low-end garment processing industry is shifting to the western part of China, as well as overseas Vietnam, Cambodia and other regions, which is an unstoppable trend."
According to reports, in the past, Wal-Mart and other large international retailers were very eye-catching in the procurement of the World Trade Organization. However, in recent years, overseas brand-name retailers have come to the WTO to purchase more and more, and they are experiencing a 30% increase every year. They need no longer cheap. Textile and apparel, but a clothing manufacturing partner with independent design capabilities. "At present, some designers in the Mainland already have unique design concepts on the one hand. On the other hand, the design costs are not as high as those of overseas counterparts. They have begun to have certain international competitiveness, so they are optimistic about the overseas brand buyers."
According to industry analysis, the transformation of the World Trade Organization with more than 10 years of professional exhibition history may have another important factor. “The Ministry of Commerce of China has allowed foreign investors to set up foreign-invested conference and exhibition companies in China in the form of sole proprietorship, which will lead to increased competition in the exhibition industry in first-tier cities such as Shanghai.â€
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