Fast fashion brand GU, a subsidiary of Fast Retailing, has announced it will close its flagship Shanghai store on Huaihai Road on August 24. This store was the brand’s first in mainland China. Its Guangzhou Victory Plaza location will also shut down on August 16, leaving GU with only two remaining stores in the country — both in Shenzhen. In response to media inquiries, GU stated that the closures are part of an operational restructuring in mainland China and do not indicate a market exit. In May, the brand opened a new concept store in Shenzhen’s Dongmen 1234 Space, targeting customers in South China with casual fashion offerings.