Chongqing - Shin Kong Place Department Store (Chongqing) Co., Ltd. was recently renamed Chongqing Xinguang Cheng Department Store Co., Ltd., marking the official exit of Taiwanese retailer Shin Kong Mitsukoshi and a new chapter under local developer Chongqing Zhongyu Property Development Co., Ltd. 

The project will now be operated solely by Chongqing Zhongyu, while the name “Shin Kong Place Chongqing” may continue to be used for up to one year. The former general manager of the project will be reassigned to Shin Kong Place Chengdu.

The mall opened in 2017 as a high-end retail and lifestyle complex. At the launch, Shin Kong Mitsukoshi executives stated that it was intended to serve the upper Yangtze River region and become a new commercial landmark in Western China.

The "Give Me Your Hand Market" was held at Shin Kong Place Chongqing from June 13 to 15, attracting over 70 renowned bakeries and drawing large crowds. (Photo/Zheng Ran)

According to Yang Dengkui, assistant manager of Shin Kong Place Chongqing, the company's ongoing restructuring plan is to increase its focus on family-friendly brands, optimize its mix of international light luxury and outdoor goods, and introduce new trends like ACGN (Animation, Comics, Games, and Novels) and sports and leisure businesses. 

Yang added that the spatial remodeling will prioritize comfort, with new service facilities and more efficient use of space to enhance the customer experience.

Merchants showed little concern over the name change. "When we got the notice, our main worries were about rent policies and whether foot traffic would remain steady," said a representative from one of the mall's flagship stores. 

Inside, fast-fashion giants like Uniqlo and MUJI continue to draw crowds, while Freshippo reportedly ranks first in sales across Southwest China. Despite a few barricaded storefronts under renovation, more than 500 retailers remain in operation- underscoring the mall's retail resilience, according to Yang Dengkui, assistant manager of Shin Kong Place Chongqing.

"In 2024, the mall attracted over 25 million visitors and achieved a turnover of 2.1 billion yuan, marking consistent year-on-year growth," said Yang. 

According to Jones Lang LaSalle (JLL), Chongqing's total stock of high-quality retail real estate will increase to 9.09 million square meters by the end of 2024, placing the city fifth in the country for retail space. Zhu Jianhui, Head of Retail Research at JLL China, points out that, "Consumer preferences are shifting from commodities to experiences," noting that the demand for services and entertainment is strong, particularly in outdoor sports brands.

According to insiders, Shin Kong Mitsukoshi’s exit is widely seen as the result of failed rent reduction talks, though the mall’s prime location in a government district remains valuable. Its distance from the consumer-heavy Guanyinqiao area likely made the withdrawal a strategic shift.

Today, Shin Kong Place Chongqing’s Energy Plaza is lively with food stalls. Former art exhibition spaces on the 2nd and 3rd floors now host discount sales, including National Day deals with brand bags at 90% off. The “Sky City” basketball court has been removed, and the market has shifted from a curated, artistic style to a practical night market approach, reflecting Chongqing Zhongyu’s focus on grounded commercial strategy amid economic pressures.