Clothing retailer Esprit Holdings will open a 1,486 square metre store in China's largest shopping centre in Shanghai's Pudong district, according to Somkit Tantadvanichkul, president of project developer Shanghai Kinghill.
He did not disclose the leasing terms but said it would be Esprit's first megastore in Pudong.
Space in the Super Brand Mall lets for about US$1 per square metre on a daily basis, compared to US$3 to US$9 per square metre for shops in Huaihui Road, Shanghai's busiest street, according to Shanghai Kinghill.
The 13-storey, US$335 million Super Brand Mall is scheduled for a soft opening in April. It will have a gross floor area of 241,000 sq m.
Mr Tantadvanichkul said about 85 per cent of the mall's retail space was let, with designer-label tenants Salvatore Ferragamo, Emenegildo Zegna, Versace, Cerruti, Bally and Hugo Boss having signed up.
Despite Shanghai's relatively high disposable income, the market for top designer labels was likely to take at least three more years to develop, he said.
Shanghai Kinghill is a unit of Hong Kong-based Chai-Thai Group, which is ultimately owned by Charoen Pokphand Group in Thailand. The company also planned to develop the Super Brand Mall into a wholesale food and fashion centre aimed at foreign firms looking to sell products in China, said Mr Tantadvanichkul.
