Daimaru ran a Shanghai department store for 13 years — then the name came off

Shin Kong Daimaru opened in May 2015 at Shanghai's prime Nanjing Road East shopping strip, a joint venture between Shanghai's New World Group and Japan's Daimaru Matsuzakaya Department Store (J. Front Retailing). The 60,000 sqm store was the Japanese retailer's only China outlet, bringing its department store expertise to the Chinese market.

The partnership struggled as Chinese department store foot traffic declined through the 2010s and 2020s. Consumers shifted to luxury malls (SKP, Taikoo Li, Plaza 66) and e-commerce platforms. The contract between the two parties, signed in 2013, reached its natural end on December 31, 2025.

J. Front Retailing did not renew. On January 1, 2026, the store was renamed '新世界新丸中心 NEW ONE' — dropping the Daimaru brand entirely. The Japanese retailer exited China completely, joining a 2026 wave of foreign department store withdrawals that included Far Eastern, Galeries Lafayette, and Harrods.

Let the 13-year contract lapse and exited China completely, renaming the store on January 1, 2026, because one store offered no path to scale.

The contract ended and J. Front Retailing chose not to renew — a quiet verdict on the department store format's viability in China

Daimaru's single China store could not compete with luxury malls and e-commerce that had reshaped retail during its 13-year presence

The partnership structure gave J. Front no path to scale — one store was a flag-planting exercise, not a business

A department store brand that can only operate one store in a market after 13 years was never a serious entry — it was a trial that nobody extended.

The store continued operations under its new name NEW ONE, managed independently by New World Group. J. Front Retailing retained no presence in mainland China. The exit was part of a broader 2026 contraction of international department stores from China, with at least 19 mall closures or restructurings recorded in the first five months of 2026.