Beijing's first Parkson closed after 31 years

Parkson opened at Fuxingmen in Beijing on March 26, 1994 — the Malaysian group's first store in mainland China, and Beijing's first foreign-invested department store after the 1992 joint-venture retail pilots. For two decades it was a landmark of the city's retail golden age, and the group's profit peaked at ¥1.123 billion in 2011.

Then the losses began. From 2015 the group booked yearly losses — ¥250 million, ¥176 million, ¥384 million and ¥175 million across 2020–2024, with one small profit in 2023 — while stores closed one by one. On October 10, 2025 Parkson announced the Fuxingmen store would close on December 31, calling the early lease termination 'a difficult but necessary decision' to stop losses: facilities too old for experience-driven shopping, core income falling, the founding store no longer able to carry its own economics.

In 2025, the year of the closure, group same-store sales fell another 16.6%, total operating revenue slipped 0.8% to ¥3.698 billion and the attributable loss came in at ¥186 million across 40 stores in 23 cities. The promised turnaround — ACGN youth centres, IP stores, food courts — is chasing a market that already moved.