Takashimaya’s sole China department store near the Hongqiao airport in Shanghai, which has been unprofitable for the past three years, will shut on August 25, 2019, after operating for less than seven years in China’s largest commercial hub. Photo: Handout

Takashimaya to close its Shanghai store in August, bowing to the onslaught by e-commerce in China’s retail revolution

  • Takashimaya will close its store near Shanghai’s Hongqiao airport, which currently occupies 60,000 square metres in seven stories, on August 25
  • The closure of Shanghai Takashimaya, which has been unprofitable for the past three years, is likely to incur a loss estimated at US$27.9 million
Topic |   Retailing

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Takashimaya’s sole China department store near the Hongqiao airport in Shanghai, which has been unprofitable for the past three years, will shut on August 25, 2019, after operating for less than seven years in China’s largest commercial hub. Photo: Handout
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