Shanghai's Hengfu gives birth to a 1.5 km "New Consumption Billion Yuan District"

At the recent event "From Seoul to Shanghai: A Two-Way Journey of K-FASHION", nearly 40 Korean companies gathered at the Hengfu Art Center to participate in the first Sino-Korean fashion industry matchmaking event of the year. With the recent visit of South Korean President Lee Jae-myung and his wife Kim Hye-kyung to Shanghai, the Korean brand representatives present at the event paid particular attention to the business environment in Xuhui District. In addition to wanting to establish a presence in Shanghai to expand into the Chinese market, some brands also expressed their desire to collaborate with Chinese local designers and fashion IP to help Chinese brands enter the Korean market. Xuhui District, where the matchmaking event was held, is an important cluster area for multinational corporate headquarters, with a total of 175 foreign headquarters and research and development centers. Among them are some well-known Korean brands, including F&F Trade, Hankook Tire, Hankwang Commercial Equipment, and Samsung China Shanghai Branch. In recent years, a number of Korean fashion brands have settled in Xuhui District, with trendy brands like wiggle wiggle, Rockfish, and MUSINSA on Anfu Road, and outdoor and sportswear brands like KONLON and MLB at Ganghui Henglong. The upcoming YOUNG Mall in Xujiahui, set to open this year, will see the arrival of MUSINSA and the "Idol Dream Factory" SMTOWN. The quality fashion street district along Wukang Road and Anfu Road where MUSINSA collective store is located spans about 1.5 kilometers and is home to over 200 unique merchants, making it a "new consumption billion-yuan district" with an annual economic contribution exceeding 1 billion yuan. Its most prominent feature is the strong presence of "first store matrix", including flagship stores like adidas Originals, the first street-side boutique of LE LABO in mainland China, as well as recently opened establishments like Longxiang Home and MUSINSA collective store, and the newly opened flagship store of the French designer brand Lemaire.