China is more than an emerging market for luxury – it is a potential avalanche of opportunity for luxury and tech retailers.
With that in mind, Apple has opened its second store in China. The first was in Beijing in 2008. The new one is in Shanghai – arguably the mecca for luxury goods in the region.
The 16,000-square-foot store opened in the Pudong district of Shanghai, China’s financial hub. Hundreds were on hand to celebrate the opening.
Apple is eager to expand into China, where it trails Nokia and Lenovo. Apple expects to expand further into the Chinese market, but have given no definitive plans.
Alex has written for Vanity Fair, Barrons, Bloomberg and Condé Nast Traveler.