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China's outlets business is on a growth trajectory that is similar to that in the US. This market is expected to grow in the coming years, and may not be hampered by the growth in e-commerce or m-commerce in that country. After a massive round of funding by L Capital Asia and Warburg Pincus, Vito Xu, Chairman of Sasseur Cayman Holding Ltd, a Chinese developer and operator of outlet malls, lists out the company's expansion plans, strengths as a business unit, and the strong growth in the outlets industry of China with Fibre2Fashion.
Which of your ambitious future plans will the L Capital Asia funding facilitate?
L Capital Asia invests in lifestyle consumption commerce across Asia, adopting a 'triple A' strategy aimed at the aspirational, affordable and alternative segments. It focuses on select sectors of lifestyle consumption which benefits from the growing discretionary consumption in Asian markets. The new investment by L Capital Asia and Warburg Pincus will provide us with both - financial power and valuable industry insight to support our growth. It will provide our tenants a better service and our customers a not only pleasant shopping experience, but also cultural and spiritual enjoyment.
What is the combination of 'art and commerce' that you promise shoppers in your outlet malls? How does it differentiate Sasseur from its competitors in China?
Sasseur is a leading operator and developer of innovative, lifestyle-focused outlets malls in China, with a strong emphasis on the combination of art and business. With 25 years of experience in international trade and business, Sasseur introduced the unique 'art commerce' model with the combination of 'modern commerce + scarce eco-system + regional culture' and core values of art, technology and branding. Art environment, abundant merchandise, interesting promotion and PR events are the key points which make Sasseur stand out against competitors. What's more, each Sasseur Art Plaza focuses on combination with a scarce eco-system. For instance, Nanjing Sasseur Art Plaza is inspired by the ancient city wall of Nanjing and is close to the Shangqinghua Wetland Park; Hefei Sasseur Art Plaza is located at a lakeside and has its own yacht wharf; Bishan Sasseur Art Plaza is located at a mountain and has a nature hot spring. Compared to a foreigner player, Sasseur Outlets Art Plaza has a larger volume. Most Sasseur Outlets Art Plazas have 200,000-300,000 sq m, whereas foreigner players have around 50,000-60,000 sq m. We have more entertainment, food and beverage, kids' yard, etc. We strive to deliver a lifestyle.
The US leads the outlets industry all over the world. How do you rate the Chinese outlets industry in comparison to the US outlets industry?
Outlets in the US are mature. China's outlets' business follows the trends in the US. Currently, China's outlets' business is developing rapidly. China is the biggest luxury goods consumption market. There is a huge space for outlets, since customers' demand and market development is poised to grow, especially for high-end outlets.
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