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Istan retreating from Middle Huai Hai Road

Rumors came true. Istan(伊势丹) on Middle Huai Hai Road(淮海中路), one of the first foreign department stores in Shanghai that has been operating for more than 15 years, will be closed at the end of 2008. The evacuation from the building will start from Dec 14 and Dec16 will be the last day of Estan Middle Huai Hai Road.

Most of the shops within Istan have discount labels all around. There are some more customers looking around than usual. But not many of them really purchased a lot of things.
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According to the management of Istan, the reason for closing is the conflicts with the landlord. The rent has been going higher, but no improvements were seen on the issues that existed for a long time, such as air conditioners not working well, and parking positions are too few.
All About Shanghai www.allaboutsh.com
Taking a deeper look into the closing, there definitely are more reasons. Istan had been one of the best high-end department stores since they first came into Shanghai. And Middle Huai Hai Road had been the heaven for shopping maniacs. However, Shanghai went through a rapid growth and constructions in the last several years. A lot of department stores have been opened everywhere in Shanghai. And people now have a lot more options when they want to do some shopping. The growth of a city would definitely make a lot of properous things fade and turn into beautiful memories.
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And we can not ignore the impact of the global economy crisis...

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