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The façade in Jing'an Kerry Centre's south zone · Metal bands layered on the diagonal of a ski slope. ⓒDESCENTE China·PR Newswire
The façade in Jing'an Kerry Centre's south zoneMetal bands layered on the diagonal of a ski slope. ⓒDESCENTE China·PR Newswire
Daily retail

A Chinese joint venture that sells 1.7 times its Japanese parent's revenue opened two floors in Shanghai (Shanghai · Retail)

2026.09.24

Japanese sportswear brand DESCENTE opened a city concept store on September 19 across the first and second floors of the south zone of Jing'an Kerry Centre in Shanghai. The company that opened it is not the Osaka headquarters but a joint venture 60% owned by China's ANTA Sports. The joint venture's local sales in China are 1.7 times the parent's consolidated revenue.

1.The address is 1238 Yan'an Middle Road. Floor area was not disclosed. The store carries the theme "明日世界" (Tomorrow's World), the same name as the 1,800㎡ global flagship that opened last December at China World Mall in Beijing. On opening day the forecourt was laid out with ski simulators, treadmills and rowing machines so visitors could log their own times.
2.It began in 1935 in Osaka as a ski-wear maker. The three arrows of the logo stand for straight descent, traverse and side-slip, the three basic ski techniques. In Japan, ITOCHU took control of the parent in 2019 after a tender offer lifted its stake to 40%. The China business is run by a joint venture set up in 2016, owned 60% by ANTA, 30% by Descente and 10% by ITOCHU. Its store count rose from 187 at the end of 2023 to 241 in June 2025.
3.The façade is a surface of silver metal bands laid at a slant. The bands tilt down like a slope, break once at a central diamond, and catch the sun in short flashes along every edge. In the ground-floor window hangs "细雨" (Fine Rain), an installation of hundreds of blue threads dropped from the ceiling, with a single orange shell jacket floating among them.
"细雨" in the window · One jacket suspended among hanging threads. ⓒDESCENTE China·PR Newswire
"细雨" in the windowOne jacket suspended among hanging threads. ⓒDESCENTE China·PR Newswire
4.The ground floor is the DESCENTE BLANC zone, finished in white and grey with natural wood. The premium ALLTERRAIN line takes the centre. An orange shell jacket hangs in mid-air, and the rest of the clothes are spaced one by one along long rails. The fixtures are modular with adjustable heights, so the whole floor can be rearranged when the season turns.
The ALLTERRAIN zone on the ground floor · Garments hung sparsely, one per gap on the rail. ⓒDESCENTE China·PR Newswire
The ALLTERRAIN zone on the ground floorGarments hung sparsely, one per gap on the rail. ⓒDESCENTE China·PR Newswire
5.The second floor gathers men's and women's training wear, golf, footwear and the DUALIS line for city commuting. In the passage between floors stands a white bust by American artist Daniel Arsham, and one wall lays images of snow and ice over Shanghai landmarks. The front of the cash counter carries the same diagonal bands as the façade.
The bust between floors · A sculpture by Daniel Arsham. ⓒDESCENTE China·PR Newswire
The bust between floorsA sculpture by Daniel Arsham. ⓒDESCENTE China·PR Newswire
The counter on opening day · The façade's diagonal bands wrap the counter front too. ⓒDESCENTE China·PR Newswire
The counter on opening dayThe façade's diagonal bands wrap the counter front too. ⓒDESCENTE China·PR Newswire
6.Chinese media have a nickname for the brand: "东北省服", the uniform of the Northeast, because everyone there wears it. The three northeastern provinces alone have 59 stores, and one store in Changchun sells 100 million yuan (about KRW 19 billion) a year. That figure comes from customers over 30 buying 4,000-yuan down jackets in cities where winter drops below minus 20 degrees.
Outside the store on opening day · People holding up phones toward the banded façade. ⓒDESCENTE China·PR Newswire
Outside the store on opening dayPeople holding up phones toward the banded façade. ⓒDESCENTE China·PR Newswire
7.Are customers buying ski skill? What they wear to malls and on the commute is clothing built for the slope, a sign that says they train seriously. Holding the opening with world champions in trampoline and swimming, and setting up fitness machines that record times in the forecourt, sells that same sign.
A timing ground in the forecourt · Ski simulators and treadmills set out on the plaza. ⓒDESCENTE China·PR Newswire
A timing ground in the forecourtSki simulators and treadmills set out on the plaza. ⓒDESCENTE China·PR Newswire
Opening-day participants · People in training wear who logged their times, in one frame. ⓒDESCENTE China·PR Newswire
Opening-day participantsPeople in training wear who logged their times, in one frame. ⓒDESCENTE China·PR Newswire
8.The Japanese parent's consolidated revenue for the year to March fell 6.8% to ¥119.3 billion. Operating profit rose 28.4% to ¥23.9 billion, and net profit set a record for the fourth year running. The reason profit rose while revenue fell lies with the China joint venture. Its sales do not appear in the parent's revenue; instead, profit equal to the 30% stake comes in as equity-method income.
9.In the same results the parent separately disclosed local sales in China of ¥199.3 billion (about KRW 1.85 trillion), up 28.8%. Korea came in at ¥68.2 billion and Japan at ¥40.4 billion. A market in which the parent holds only 30% is bigger than the parent's entire books.
본사 장부보다 큰 중국 매출 2026년 3월 결산, 단위 억 엔 중국 현지 매출 1,993 본사 연결 매출 1,193 한국 현지 매출 682 일본 현지 매출 404 ※ 중국 매출 대부분은 합작사 몫이라 연결 매출에 들어가지 않는다. 데상트 결산 설명·WWDJAPAN 기준.
Local sales by country vs the parent's consolidated revenueChina alone is 1.7 times the parent's consolidated revenue.
10.On ANTA's side, the numbers climb faster. In the first half of this year ANTA's "all other brands" segment (Descente, Kolon Sport, Jack Wolfskin and others) grew revenue 44.2% to RMB 10.69 billion, with operating profit of RMB 3.54 billion, so 33% of sales stays as profit. Descente alone passed RMB 5 billion in China sales in 2023 and RMB 10 billion in 2025.
11.Divide RMB 10 billion by the year-end 2025 target of 260 stores and each store sells about RMB 38 million a year, roughly KRW 7.2 billion (estimate, online included). That is more than 40% above RMB 27 million in 2023. Twenty-one stores exceed RMB 50 million a year. New stores have gone mainly into large malls in major cities, and sales per store did not fall while the store count grew.
매장이 늘어도 매장당 매출은 올랐다 데상트 중국 매장 수와 매장당 1년 매출(추정) 2023년 매출 50억 위안 · 187곳 2,700만 위안 2025년 매출 100억 위안 · 약 260곳 3,800만 ※ 2025년 매장 수는 연말 목표치(260~270곳)의 하단. 매출은 온라인을 포함한 브랜드 전체 기준. ※ 매장당 매출은 매출을 매장 수로 나눈 추정이다. 원화로 약 51억 원 → 약 72억 원(1위안 약 190원).
What one store sellsSales per store rose as the network expanded.
12.The price range stretches upward. The best-selling long down jacket on the Tmall official store is 3,990 yuan (about KRW 760,000), and the ski line runs 5,000-9,000 yuan. The top-tier down made in Japan, "水沢ダウン" (Mizusawa Down) MOUNTAINEER, is ¥154,000. Putting ALLTERRAIN at the ground-floor entrance looks like a route that shows the most expensive section first and then sends people upstairs for training wear and golf.
13.The Beijing global flagship at China World occupies space that once held Giorgio Armani. Shanghai practice STILL YOUNG took the Möbius strip as its model, wrapping four buildings in a single silver band and adding an 830㎡ outdoor plaza. Inside is a ski zone carved from white walls like a snow cave. The Shanghai store is that silver band and slope diagonal shrunk into two floors.
The global flagship at China World, Beijing · Silver bands wrap the building. At 1,800㎡ it is the brand's largest store. ⓒSTILL YOUNG, photo Yuuuun Studio
The global flagship at China World, BeijingSilver bands wrap the building. At 1,800㎡ it is the brand's largest store. ⓒSTILL YOUNG, photo Yuuuun Studio
The snow cave in the Beijing store · The ski line set inside a white cave. ⓒSTILL YOUNG, photo Yuuuun Studio
The snow cave in the Beijing storeThe ski line set inside a white cave. ⓒSTILL YOUNG, photo Yuuuun Studio
14.Korea runs the other way. It is operated directly by the parent's subsidiary Descente Korea, and local sales of ¥68.2 billion (about KRW 630 billion) are a third of China's, down 8.8% in April-June last year. The market the parent runs itself is shrinking, while the one handed to a local sports giant with a majority stake grew the most. It was also the joint venture that began producing inside China in October 2016 and fixed chronic supply delays. The China business first turned a profit in 2019.
15.In a year when consolidated revenue fell 6.8% and profit hit a record, the Japanese brand's Chinese joint venture opened another two-floor store in Shanghai. What that venture sold is 1.7 times the parent's reported revenue. For a Korean brand trying to enter China the same way, the first sticking point is the ownership split. Hand a majority to a local conglomerate and store counts and sales grow quickly, but those sales land on the partner's books, and the power to set prices and pick locations goes with them.
Daily Retail #046 · 2026.09.24
Sources: PR Newswire (迪桑特「自在主场」主题活动亮相上海静安嘉里中心 暨迪桑特静安嘉里中心城市概念店开幕仪式 · 21 Sep 2026 · opened 19 Sep · 延安中路1238号 静安嘉里中心 南区 L1 S-01A·L2 S2-01 · "明日世界" · ground floor DESCENTE BLANC·ALLTERRAIN · window "细雨" · 2F golf·DUALIS · Daniel Arsham sculpture · D:MODE event · store photos ⓒDESCENTE China), ELLEMEN (迪桑特静安嘉里中心城市概念店开幕 · 22 Sep 2026), WWDJAPAN (デサント、中国現地売上高が3割増の1993億円 · May 2026 · consolidated revenue ¥119.3bn · operating profit ¥23.9bn · China ¥199.3bn · Korea ¥68.2bn · Japan ¥40.4bn), seventietwo (Descente FY3/2026 Q1 · Korea down 8.8% · equity-method income ¥3.6bn), ITOCHU press release (23 Feb 2016 · JV stakes 60·30·10%), ANTA Sports 2026 interim results (all other brands RMB 10.69bn · +44.2% · operating profit RMB 3.54bn), TMTPost 钛媒体 (迪桑特2025年营收破百亿 · Jan 2026 · RMB 5bn in 2023 · 241 stores in June 2025 · China production from Oct 2016), Xinhua 新华网 (迪桑特接手阿玛尼旗舰店原址 · Jun 2025 · 226 stores at end-2024), 天府财经 (东北省服 · 30 Dec 2025 · 59 stores in the Northeast · 21 stores above RMB 50m · Changchun store RMB 100m · 3,990 yuan), Jiemian 界面新闻 (187 stores at end-2023), DESCENTE ALLTERRAIN official store (水沢ダウン MOUNTAINEER ¥154,000), retail design blog·superfuture (DESCENTE flagship store by STILL YOUNG · 1,800㎡ · 830㎡ plaza · photos ⓒSTILL YOUNG·Yuuuun Studio).
Floor area, rent and sales of the Shanghai store were not disclosed. Sales per store are an estimate from brand revenue divided by store count. KRW conversions at about KRW 190 per yuan and KRW 930 per ¥100.