The Untold Story of Weihong Liu: From Poverty to B.C. Billionaire

Weihong Liu, a name that has made headlines recently, is the powerhouse behind the acquisition of 28 Hudson’s Bay leases. This bold move marked her solid re-entry into the retail sector across Canada, a country she only moved to in 2014. But who is Weihong Liu, and what sparked her interest in such a formidable business deal?

An Inspirational Journey from Harbin to Billionaire

Liu’s life began humbly near Harbin, in China’s Heilongjiang province. As a teenager, she worked as a shoe factory apprentice. By her own account, her family faced financial hardships, which led her to end her formal education prematurely. Despite these early challenges, she displayed resilience, diversifying into wholesaling clothing and vegetables which laid the foundation for her entrepreneurial pursuits.

Building an Empire: Central Walk’s Success Story

Her meteoric rise began in Shenzhen, where she first launched a small shop, then a restaurant. These ventures into the commercial world piqued her interest in real estate investment. By 1994, she founded Yijing Investment Development Co. Ltd., a move that would eventually result in the creation of Yijing Central Walk. Known for its audacious $126 million investment, the Central Walk Shopping Mall in Shenzhen under Liu’s leadership became a jewel in her empire.

According to Financial Post, Liu’s savvy business acumen saw her selling this asset for over $1 billion in 2019, a sale that coincided with Central Walk’s relocation to Canada, marking a strategic expansion into North America.

A New Chapter in Canada

Liu’s arrival in Canada in 2014 marked a new chapter. Her real estate interests have since flourished, with investments like the Woodgrove Centre and Mayfair Shopping Centre, amassing a total acquisition cost of about $858 million. Particularly intriguing is her strategic positioning, with three of her Canadian properties set to incorporate Hudson’s Bay lease locations, enhancing their commercial potential.

Facing Controversies Head-On

While Liu’s career has not been without controversy, including a noted altercation with a journalist in Shenzhen, she navigates challenges with resilience. Her assertive leadership style and outspoken nature, especially on political platforms, have sparked debate and interest alike.

Reimagining Retail with “New Bay”

Liu’s vision extends beyond traditional retail. Her proposed “New Bay” stores aim to bridge generational gaps, offering immersive shopping experiences. This innovative approach aligns with her belief in revitalizing Canada’s retail landscape, especially amidst economic uncertainties.

Liu’s Vision for the Future

As Liu continues her mission, her adaptability and determination reflect her journey — from humble beginnings to a force reshaping the Canadian retail sector. Her story is a testament to the power of vision and grit, inspiring countless others on similar paths.

Liu’s narrative is not just about business success; it is about transformational leadership and a passion for redefining the shopping experience. Stay tuned as she continues to make waves with her ventures, “New Bay” set to enthrall and redefine consumer expectations in the coming years.