What is New World Department Store?

New World Department Store, commonly known as New World Department Store China Limited, is a retail company listed on the Hong Kong Stock Exchange with HKEx code 0825. New World Group is a well-known enterprise established in Hong Kong, focusing on core businesses such as real estate and telecommunications. Steady financial situation, diversified business portfolio and business strategy of keeping pace with the times have made New World Group more powerful and become a major consortium in Hong Kong. New World Group seized the market opportunity, established New World Department Store Co., Ltd. on 1993, and operated its first department store in Wuhan, the largest city in central China, the following year. Since then, New World Department Store has entered the retail market in China. Chinese name New World Department Store China Co., Ltd. commonly known as New World Department Store Stock Code HKEx: 0825 Type Group Overview New World Department Store has determined the market positioning of the middle and high-end route according to the market situation and its own advantages. Elegant and fashionable young people are the main target customers of New World Department Store. The group's market positioning is the middle and high-end retail market in China, offering a series of middle and high-end goods, mainly selling fashion, accessories, jewelry and cosmetics. In the group's own stores, sales are mainly divided into two categories, namely counter sales and self-operated sales. The sales of the Group's own stores are mostly counter sales. New World Department Store is convinced that talents are an important resource to create wealth. Therefore, on the one hand, New World Department Store strives to find excellent managers in Chinese mainland, Hongkong, Taiwan Province and Southeast Asia; on the other hand, it urges the Valley to cultivate outstanding local employees with potential, and gradually forms an inexhaustible treasure house of human resources. After years of hard work, New World Department Store is now thriving. Many cities from Central China, East China to Northeast China, North China to Southwest China have won the popularity of the market and become models of local department stores. The Group entered into an agreement with counter dealers, according to which these counter dealers occupied the designated areas or counters of the Group's own stores and sold their branded goods, from which the Group received commissions. The commission of counter sales is generally calculated according to the agreed percentage of sales including tax (but there is an agreed minimum commission), which depends on the time limit of counters and related department stores and the products supplied by counters. The company is registered in Cayman Islands, and its chairman is Zheng Jiachun. The mission is innovation, foresight and high efficiency. The ideal of establishing a new mode of urban fashion life in China is recognized as the most influential and profitable chain fashion department store in China. We believe in serving customers with integrity, responsibility and success, seeking development in an innovative, scientific and timely manner, responding to the market with foresight, leadership and flexibility, improving quality with rigor, efficiency and professionalism, and cultivating talents with respect, care and trust.