On September 23rd, the 2025 Wangfujing Group Co.,Ltd. media conference themed "All Things Beautiful, Right on Time" was held at Beijing Friendship Store. On the same day, Beijing Friendship Store and its garden officially opened fully after four months of trial operation, showcasing the transformation vitality of time-honored commercial enterprises with a brand-new image, becoming a vivid practice of the group's "ecological thinking" in reconstructing commercial scenarios.
↑On September 23rd, Shang Xiping, Party Secretary, Vice Chairman and President of Wangfujing Group Co.,Ltd., Zeng Qun, Deputy Party Secretary and Chairman of the Trade Union, and Wu Jun, Vice President and CFO, attended the 2025 Wangfujing Group Co.,Ltd. media conference themed "All Things Beautiful, Right on Time".
Built in 1964, Beijing Friendship Store once served as a diplomatic window for New China, creating a record of receiving 5.39 million foreign guests annually. This renewal follows the positioning of "New Friendship, New Youth," reconstructing the commercial ecosystem with 100% flagship and customized store lineup, covering diverse business formats including dining, leisure entertainment, trendy culture, health and medical aesthetics, creating an immersive garden courtyard scenario.
On-site observations revealed that the renovated building preserves the original historical features and memories of old objects while incorporating modern design concepts: the original reception room has been transformed into a local coffee brand BERRY BEANS store, the warehouse converted into Chongqing Italian restaurant Carbo, the retro-style "Super Friendship Old Tea House" recreates scenes from the 1970s and 1980s, while Beiping Machine Restaurant revitalizes the original garage space. The third floor of Friendship Store houses Super Zhuanzhuan—a second-hand multi-category circular warehouse store, where old and new elements coexist harmoniously in this historic landmark.
In terms of operational model, the store breaks through traditional department store boundaries, becoming a new popular landmark for Beijing CityWalk with full-time services of "morning coffee and evening drinks + cultural experiences + social gatherings."
Shang Xiping, Party Secretary, Vice Chairman and President of Wangfujing Group Co.,Ltd., introduced that facing the rise of outlets and shopping centers and upgraded consumer demands, the group has timely constructed a business format of "department stores + outlets + shopping centers" and obtained national duty-free qualifications to add "taxed + duty-free" business. As of now, the group has opened 78 large retail stores, introduced 2,454 new brands in 2024, including 475 flagship stores, and expanded departure tax refund stores to 32, fully demonstrating diverse operational strength.
Regarding the core issue of existing commercial transformation, Wu Jun, Vice President and CFO of Wangfujing Group Co.,Ltd., explained that based on "changes in consumer demand" as the core criterion, focusing on renovation-worthy properties with "good locations and moderate size," implementing the "three modernization construction" principle of "specialized, systematic, and personalized business formats (one store, one strategy)."
Currently, all 29 department stores of Wangfujing Group Co.,Ltd. are being upgraded according to "one store, one strategy": for example, Beijing Chang'an Mall creates a "new lifestyle experience venue" for seniors, Shuang'an Mall rejuvenates through rooftop gardens and flagship store economy, Joy Shopping Center becomes a secondary culture traffic landmark, and Xi'an South Gate store builds a 24-hour ecological experience venue, forming diverse models for existing property renovation.
In the future, the group will implement the core strategy of "accelerated transformation and quality development," proposing to reconstruct commercial scenarios with "ecological thinking" to meet consumers' pursuit of natural and experiential feelings. The group will simultaneously advance traditional department store upgrades and quality improvement of incremental business formats such as outlets and shopping centers, focusing on major renovation projects including Wanli WELL TOWN and Xidan Mall. Among these, "Wanli WELL TOWN," North China's largest outlet, has reached 95% tenant recruitment and will open in December.
Shang Xiping stated that Wangfujing will continue to embrace the digital wave, create a "talent reservoir" through cross-industry cooperation and talent cultivation, assist in building international consumption center cities through ecological and experiential operations, and steadily advance toward the goal of becoming a century-old enterprise.
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