Italy’s 10 Corso Como is continuing its eastward expansion with the opening of a 27,000-square-foot multibrand boutique in Shanghai. The curated concept shop is set to open in fall 2013 on Nanjing West Road in the heart of the city’s luxury shopping district. Designed by longtime 10CC collaborator Kris Ruhs, the space will be “all glass and light,” founder Carla Sozzani wrote on her blog. The brand currently has a flagship in Milan, as well as two stores in Seoul and a Tokyo outpost inside Dover Street Market’s Giza location.
The deal unites Sozzani with China’s Trendy International Group, a design, distribution, and retail firm that recently sold a 10% share to a LVMH Moët Hennessy Louis Vuitton SA-backed private equity firm for $200 million. (Sozzani previously partnered with label Comme des Garçons and Samsung when opening her stores in Japan and China.)
The move marks yet another step in China’s fashion ascendancy. The county’s booming fashion market currently tops $60 billion, and is expected to more than triple by 2020, with projections reaching $200 billion. Currently, China is the second-largest luxury market in the world, after overtaking Japan in 2010; the United States remains the world’s largest luxury consumer.
The region’s economic power has certainly been felt on recent runways with an influx of Asian-inspired looks ranging from Jason Wu’s Mao jackets for fall 2012 to Louis Vuitton’s updated cheongsams for spring 2011, pieces sometimes modeled by the rising wave of Chinese models like Liu Wen and Fei Fei Sun.
Sozzani, a gallerist and former fashion editor (and sister of Vogue Italia editor-in-chief Franca Sozzani), founded 10 Corso Como in Milan in 1990. With its focus on lifestyle over retail, the boutique merges department store, art gallery, bookstore, café, and even a B&B.
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Image: Courtesy 10 Corso Como