- Business
- Wangfujing Group Co., Ltd. (600859.SS) operates as a leading Chinese retailer focused on department stores, shopping centers, outlets, supermarkets, and duty-free operations. The company offers comprehensive retail services including department store sales of apparel, accessories, cosmetics, jewelry, food, home appliances, and other consumer goods; integrated shopping centers combining shopping, dining, entertainment, leisure, business, and services; outlet malls featuring discounted luxury and branded products; supermarkets providing everyday groceries and essentials; duty-free shops with international brands under the WFJ Duty Free fascia; proprietary self-operated brands emphasizing premium and trendy selections; and online platforms integrated with smart store technology for omnichannel shopping experiences. Founded in 1955 and headquartered at No. 255 Wangfujing Avenue, Dongcheng District, Beijing, Wangfujing maintains a sales network across 38 cities in China, encompassing over 80 large retail stores with a total gross floor area exceeding 540,000 square meters, primarily in North China, East China, and other regions including Southwest, Northwest, Central, Northeast, and Southern China. In recent developments, the company opened its first duty-free store in Hainan in January 2023 under WFJ Duty Free, marking its entry into the booming tax-free market; launched the "2025 Green Living Initiative" and expanded "Beyond Duty Free" philosophy to redefine tourism retail; debuted new shopping centers such as Lhasa Wangfujing Shopping Center in May 2025 and Wangfujing·Shangcheng in April 2025; accelerated projects like Bayli with a focus on攻坚; partnered with DeepSeek for AI-enhanced retail experiences in March 2025; initiated a nationwide 70th anniversary celebration across 38 cities and 80 stores in March 2025; and continued equity buyback under a plan announced in May 2024 with updates through 2025.