With China being a key market, The Bicester Collection — a London-based luxury outlet shopping village operator — anticipates more growth in the world's second-largest economy, said a senior executive of the company.

"China is a huge economy. It's a force that stands in its own weight and its own right. As a global force... the diversity and the depth of this economy are unstoppable," said Desiree Bollier, chair and global chief merchant of the Bicester Collection.

"So it gives me confidence that actually the investment we made into being here is the absolute right thing to do."

The group is looking to open its third shopping village in China. "We have been looking for the right destination for quite some time. And when the moment comes, we will announce it," said Bollier.

According to Bollier, the company is expanding its village in Suzhou, Jiangsu province, an expansion scheduled for completion in 2026. The expansion will add 50 new boutiques and 30,000 square meters of retail space, making the Suzhou village the biggest shopping village in the company's portfolio upon completion.

Its Shanghai village may also be expanded in the few years to come.

"I think in a country like China, there is room for organic growth we are seeking," said Bollier.

The company operates 12 villages worldwide, with the other nine in Europe and one in the United States.

Despite external challenges, China's economy behaved solidly in 2024, with retail sales of consumer goods reaching 48.79 trillion yuan ($6.71 trillion), an increase of 3.5 percent year-on-year, said Kang Yi, head of the National Bureau of Statistics.

"Expanding consumption is one of this year's priorities, and we believe the central government's measures would effectively shore up domestic demand and boost household consumption, therefore driving stable economic growth and stronger development," said Kang.

Bollier said the company's presence in China has helped the group immensely.

"Many of our Chinese guests — some though never heard of the Bicester Collection before — want to come to Europe and visit the Bicester Collection, which reflects that the impact of our presence in China is immeasurable."

There are many opportunities in China, Bollier said, noting that Chinese technologies and local innovation are enhancing service quality globally.

"Embracing artificial intelligence, in many ways, allows our team to be a better host or hostesses … and bring experiential retail to a level that we never reached before," Bollier said.

"We will continue to innovate. We don't think about ourselves as a discount or off-price or anything. We really are forward-thinkers in many ways, so we will continue to do what we do best."