Zhongmin Baihui sees growth in outlet malls; coronavirus outbreak impact yet to be felt

SINGAPORE (Feb 14): Online shopping is booming in Asia, but brick and mortar retail isn’t going away anytime soon. Outlet malls, for one, are gaining popularity in China as shopping and buying is an activity that comes in more variety and format. For consumers, these outlet malls, located in the suburban areas, are the places to go to pick up discounted goods, which are off-season, and also because rental for the retailers is cheaper.

For years, Zhongmin Baihui Retail Group (ZMBH), a Singapore-listed operator of department stores in China, was operating only within cities of China’s Fujian province, particularly Quanzhou and Xiamen. Last year, it ventured outside Fujian for the first time to Hunan province. This new store is located within Changsha Sasseur, an outlet mall which is owned by Sasseur Group, sponsor of another Singapore-listed entity, Sasseur REIT.