The move, which will see the luxury brand close their store in Shanghai’s Plaza 66 Mall, comes as a part of the brand’s China’s retail restructuring strategy.
It has been announced that the store’s last trading day will be Sunday February 14, 2021 and according to a number of sources, Burberry is expected to move in to the location. Prada has stressed that the closure is not due to the store’s performance and that their sales in the region grew by 52 per cent in the second half of 2020.
The brand commented: “Prada is currently developing an innovative new retail presence for Shanghai that will enhance and update its presence in this dynamic city. The location and planned opening date of the new store will be revealed soon.”
