A deal has been struck between the government of Shenzhen and the US-based retailer to bring a flagship to the Longhua district.
The proposal to open a flagship store in Longhua comes following the huge success the retailer had when they launched the brand in China last year. The first Costco to open in the country is located in Shanghai and upon opening was so popular that customers were subjected to three-hour waits in the car park as well as a two house line to get in to the warehouse itself.
Due to the retailer’s popularity, Shanghai will also become home to a second Costco location, which was announced earlier in the year in February. Furthermore, a Costco subsidiary purchased a piece of land in Suzhou expected to be turned into a 50,000sq m warehouse store.
The new project in Longhua is expected to cost RMB9 bn and will include a Costco headquarters and the flagship store as well as offices and a hotel.
