On March 5, Youngor signed a strategic cooperation agreement with Zhuhai Wanda Business Management Group at Youngor's headquarters in Ningbo. Xiao Guangrui, CEO of Zhuhai Wanda Commercial Management Group, and Li Rucheng, chairman of Youngor Group, attended and witnessed the signing.
Zhuhai Wanda Commercial Management Group, as the country's largest commercial property ownership and management enterprise, with a total commercial operation area of more than 70 million square meters, has become an important force to promote China's commercial prosperity.
Youngor began its partnership with Wanda in 2009, with the first store being the Ningbo Yinzhou Wanda Store, which is still ranked at the top of Youngor's national shopping mall store rankings. By 2024, the two parties have opened more than 160 stores in Wanda plazas across the country, with sales exceeding 300 million yuan.
In November, Youngor celebrated its 45th anniversary, with executives from more than 80 business groups across China, including Wanda, gathering in Ningbo to celebrate Youngor's birthday. Three months later, the two sides have made substantial progress in the "total to total" docking. After the signing, the two sides will carry out in-depth cooperation in many fields such as headquarters joint distribution cooperation, project expansion cooperation, member resource sharing, store management cooperation, brand promotion cooperation, and jointly explore new development opportunities.
Xu Peng, president of Youngor Apparel Holdings, said: "The strategic cooperation between Youngor and Wanda is a 'two-way journey' of brands and channels, and the two sides will jointly explore and expand new retail models to promote the synergistic development between brands and businesses. In addition, we are deeply thinking about how to innovate the integration of Youngor meeting room, living hall and other scenes, and create a new commercial space in the commercial square, "said Yang.
Xiao Guangrui, CEO of Zhuhai Wanda Business Management Group, said: "We believe that relying on Zhuhai Wanda Business Management Group's scale advantages and rich experience in the field of business operations, as well as Youngor's outstanding brand influence in the apparel industry and the successful practice of diversification strategy, the cooperation between the two parties will usher in a broader prospect. In the future, we will continue to deepen our cooperation to enhance the consumer experience and further enhance the brand value."
In recent years, Youngor has invested heavily in the layout of offline channels, carried out the strategy of large stores in the core business areas of core cities across the country, and laid out flagship large stores. According to previous financial reports, in the first three quarters of 2024, Youngor opened 96 new self-operated stores, and the total number of self-operated stores reached 1,733 at the end of the period. What is certain is that the cooperation between Youngor and Wanda not only strengthens the deep cooperation between the brand and Wanda and enhances the brand image, but also means that Youngor will continue to provide consumers with more convenient shopping experience and higher quality products and services in the future.
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