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Shanghai FTZ to house high-end apparel distribution centre
Jan '14
The free trade zone (FTZ) in Shanghai will house a distribution centre for luxury apparel, said to be the first in Asia, reports Want China Times, citing Chinese-language Guangzhou Daily.
The luxury apparel distribution centre would be jointly built by Italian company Firmati & Griffati and the Zhongfa Commercial Management Group, taking advantage of favourable tax policies for new ventures in Shanghai FTZ.
The opening of the new distribution centre would help wholesalers and retail channels in the Asia-Pacific region, as they would no longer need to stock their goods in the country of origin, especially Europe.
The retail channels would be able to complete their purchase processes in Shanghai, and will enable local consumers to get luxury items at relatively lower prices.
Ding Haozhou, president of Zhongfa Group said the distribution centre could ensure stable supply to Chinese luxury outlets.
At present, the luxury products sold in China are normally two to three times costlier than the prices at which they are sold in other countries, and hence, many Chinese nationals buy items abroad.

Fibre2fashion News Desk - India

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