The Shanghai souvenir that doesn’t look Chinese: inside Pane’s cross-border playbook
During the 2026 Labor Day holiday, the line outside Pane on Shanghai’s Huaihai Road ran to the curb, with waits topping forty minutes. The notable part wasn’t the line; it was who stood in it. At Pane stores, foreign tourists make up an estimated 60–80% of buyers, many treating the shoe as a Shanghai souvenir. […]