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Nanjing’s Deji Plaza seen overtaking SKP as China’s top mall

Nanjing Deji Plaza achieved annual sales of 24.5 billion RMB ($3.37 billion) in 2024, marking an increase from 23.9 billion RMB ($3.29 billion) in 2023 and solidifying its position as a leading high-end commercial destination in China. This growth highlights its strong performance in the East China market and suggests a potential shift in the national high-end retail landscape. Meanwhile, Beijing Shopping, Knight, and Partner (SKP), which has consistently led national shopping mall sales in recent years, reportedly saw a decline in 2024. Industry sources indicate its sales may have dropped to around 22 billion RMB ($3.02 billion), down approximately 17% from 26.5 billion RMB ($3.64 billion) in 2023. If confirmed, this would place Nanjing Deji Plaza ahead of Beijing SKP in annual sales. However, official figures from Beijing SKP have not yet been released.

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