Mont Blanc Splashes Some Cash In Shanghai

Friday, November 2, 2007 2:13
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Nanjing West Road retail property is buy far some of the hottest around, and for years the CITIC Starbucks was an icon as it had probably the best spot in town for people watching.

But a couple months ago that all changed as Starbucks closed their doors on that property and moved downstairs.  for the average consumer, this may seen odd… but for those that know real estate, that is a sign that someone was either not willing to pay street level rent or someone else was willing to pay more than market.

Mont Blanc Shanghai Store

Well, it didn’t take long for the answer to come out, and it turned out that Mont Blanc (who previously leased the space next to Starbucks inside the mall was taking over that spot, and the one about it on the second floor, to creae Mont Blanc’s worldwide flagship store.

Where this gets mind boggling is that it turns out they are paying 11USD/ meter/day.  that is 11 USD … PER METER… PER DAY.

Now, at 800 – 1000 meters of space, that adds up to a whopping amount of rent every month that I would guess is over 250,000USD a month… and you know what that means…. all those hawkers on the street with their Mont Blanc pens are gonna have to go.  Cause Mont Blanc is gonna need to sell a lot of pens and cuff links to make their overhead.

Let’s just hope they fair better than others who sought riches on Nanjing West’s Golden quarter km.

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