Italian fashion retail giant RDM announced Wednesday that it will invest $910 million to set up five Italian-style luxury outlet centers in China under the brand name of "Florentia Village."
Jacopo Mazzei, chairman and CEO of RDM Group, made the remarks when attending a ceremony to mark the completion of RDM's first "Florentia Village" in Tianjin.
The fashion outlet slated to open May 19 represents the launch of RDM's investment and development strategy in China, he said.
The outlet covering 60,000 square meters will offer an average 50-70 percent off domestic retail prices for luxury brands such as Giorgio Armani and Burberry.
The shopping village, which resembles a 16th century Italian town, will feature nearly 200 world-renowned brand name stores with authentic merchandise.
Ivano Poma, chairman and CEO of Florentia Village and managing director of RDM Asia, said the company chose to launch the first China outlet in Tianjin because of its potential to attract a new generation of stylish consumers with growing disposable incomes in the luxury sector.
The company did not reveil details of its outlets in China.
