BYD Utilises Shanghai Mansion as Exclusive Boutique for High-End Cars
Chinese automaker BYD is taking a unique approach to showcase its premium Yangwang cars by transforming a Shanghai mansion into a boutique showroom.
The company plans to establish over 90 outlets across China by the end of the year, targeting affluent Chinese consumers.
Located in one of the world's wealthiest districts, the Yangwang flagship store is discreetly nestled on the first floor of a Western-style building. With no visible BYD signage, the store piques the curiosity of passersby, attracting attention from both locals and foreign tourists.
The store currently features the Yangwang U8, a plug-in hybrid SUV priced at 1.098 million yuan ($153,000). The sleek white walls and luxurious orange-brown interior create an ambiance reminiscent of high-end jewelry or fashion boutiques. The U8 boasts advanced features, including independent wheel control, allowing it to rotate 360 degrees on the spot and even operate in water.
BYD's strategy with the Yangwang brand is to establish it as an independent luxury brand, distinct from its popular Dynasty and Ocean series. By focusing on dedicated stores, the company aims to maintain control over the brand image and swiftly adapt based on customer feedback.
Following the successful launch of the Shanghai store, BYD has opened Yangwang outlets in Hangzhou, Shenzhen, Chengdu and other cities. The company plans to expand its network to more than 90 directly managed stores in approximately 40 cities nationwide by the end of the year. This expansion aims to provide consumers with the opportunity to experience the brand and its vehicles firsthand, further enhancing its appeal.
Building a luxury brand with vehicles priced over 1 million yuan presents a new challenge for BYD, which has primarily focused on the low- to mid-priced electric and plug-in hybrid market. In December, BYD revealed that it sold 408 Yangwang units in November, out of its total sales of over 300,000 units.
While BYD faces stiff competition from European luxury manufacturers such as Porsche, BMW and Mercedes-Benz in the million-yuan auto market, the company's ability to establish itself in this segment will be closely watched.
In conclusion, BYD's innovative approach of utilising a Shanghai mansion as a boutique showroom for its high-end Yangwang cars demonstrates the company's commitment to capturing the attention of affluent Chinese consumers. With plans for further expansion and a focus on brand differentiation, BYD aims to establish itself as a prominent player in the luxury automotive market.
BYD is transforming a Shanghai mansion into a boutique showroom for its premium Yangwang cars.
The company plans to establish over 90 outlets across China by the end of the year.
The Yangwang flagship store attracts attention with its discreet location and luxurious ambiance.
BYD aims to differentiate the Yangwang brand as an independent luxury brand.
Source: NIKKEI ASIA