Swire Properties CEO: There was a 5% increase in retail footfall last year. We need to seek development amidst uncertainties | Frontline

Despite the global luxury market facing a downturn, Swire Properties has still achieved a 5% increase in retail footfall in the Chinese mainland.

On Tuesday, Peter Churchouse, the CEO of Swire Properties, revealed the above figures during an interview with the media, including 36Kr. In the past year, Swire Properties has been affected by the global market situation, and the sales of its retail properties in the Chinese mainland have fluctuated significantly. However, Swire Properties remains optimistic about the future of this business. "We saw an improvement in retail sales in the fourth quarter of last year, and this trend continued steadily in the first quarter of 2025."

When asked about the impact of tariffs, Peter Churchouse said that the biggest concern in the retail industry is uncertainty. However, brands will seek more high - quality partners when trying to avoid risks, and Swire Properties is confident to be one of them. In the future, it will "seek stable development in the face of uncertainty."

This year marks the 10th anniversary of the official completion of Chengdu Taikoo Li, which is not only a benchmark retail property of Swire Properties in the Chinese mainland but also a calling card of the city of Chengdu.

On April 15th, ten three - dimensional art illustrations were exhibited in the decagonal conceptual space of the Man Square in Chengdu Taikoo Li. This open - air commercial block in the "most consumption - vibrant" city in western China is also showing the world through a cross - time dialogue how a commercial space can become a living museum of urban civilization.

The 10th - anniversary installation exhibition of Chengdu Taikoo Li

Along with the exhibition, a documentary titled "Oral History of Chengdu Taikoo Li in the Past Decade" was also released. This documentary reviews the development context and the stories behind the project in the form of interviews. Among many high - end retail properties in China, Chengdu Taikoo Li is quite distinctive for its in - depth integration of business and culture. It dares to create low - density spaces and make plans truly based on the environment, which is also the difference between Chengdu Taikoo Li and all traditional shopping malls.

In the footage of this documentary, the post - and - lintel structure of traditional Western Sichuan dwellings overlaps with the glass curtain walls of modern buildings in the play of light and shadow. This is also the design result of years of research by the Taikoo Li team. They moved and reorganized 22 historical buildings, reconstructed the sloping roofs with 25,000 customized blue tiles, and made the inclination angle of each eave precisely correspond to the sunshine trajectory in Chengdu, so that the exquisite display windows of luxury brands can coexist harmoniously with the blue bricks and black tiles.

At the opening ceremony of the 10th - anniversary commemorative exhibition, Peter Churchouse continued to express his confidence in Chengdu to the public. "Chengdu Taikoo Li fully demonstrates our forward - looking concept, which respects local culture and focuses on long - term community building. We are committed to creating a world - class lifestyle destination that integrates retail, dining, culture and art, and promotes community interaction."

Since its upgrade in 2022, Chengdu Taikoo Li has introduced more than 215 new brands, including 80 regional or national flagship stores. For example, Cartier's only single - building boutique in China, Cartier Maison; CAFÉ DIOR BY ANNE - SOPHIE PIC, a café by Dior; the new image store and the first duplex store in Asia of GOYARD; LOEWE's high - end residence in Chengdu; the third Louis Vuitton Maison in the Chinese mainland and the first Louis Vuitton restaurant in China, THE HALL; the global flagship store of The World of Ralph Lauren (including the first Double RL boutique in China and the first Ralph’s Bar in the Asia - Pacific region), and the reopened Tiffany & Co. flagship store in Chengdu Taikoo Li after renovation.

These stores have set national and even global sales records. For instance, the GUCCI store at 1101, West Lane, was the global sales champion in 2021.

As for the brand Lemaire, which is more appealing to "trend - setters", it has just opened a store here. This French designer brand, known for its extremely slow expansion speed and extremely fast rise to popularity, chose a city other than Shanghai for its first store, and the location is not in the so - called prime area of Taikoo Li (it is near the Temple House, rather than on Shaomao Street or Middle Lane where luxury brands are concentrated), which has also sparked quite a bit of discussion.

Currently, Swire Properties has six completed projects in the Chinese mainland, located in Beijing, Shanghai, Guangzhou, and Chengdu. These include Sanlitun Taikoo Li and Indigo in Beijing, Xingye Taikoo Hui and Qiantan Taikoo Li in Shanghai, Taikoo Hui in Guangzhou, and Chengdu Taikoo Li. The projects under development include Taikoo Place in Beijing, Xi'an Taikoo Li, Sanya Taikoo Li, Qiantan Comprehensive Project in Shanghai, Taikoo Yuan in Lujiazui, and Julongwan Taikoo Li in Guangzhou.