(Yicai) Sept. 5 -- The Beijing venue of Madame Tussauds, a well-known European museum chain featuring lifelike wax figures of celebrities and historical figures, will permanently close after 11 years when its lease expires on Oct. 1 as part of a brand strategy shift.

Most of the wax figures will be moved from the venue in China’s capital to other locations in the country, while some will be retired and properly preserved, Madame Tussauds Beijing announced yesterday. Visitors can still enjoy Madame Tussauds in Shanghai, Wuhan, and Hong Kong, it added.

Opened in 2014, Madame Tussauds Beijing was the first international entertainment experience venue on Qianmen Commercial Street, a well-known pedestrian thoroughfare near Tiananmen Square.Madame Tussauds Chongqing closed in May after nearly nine years in operation.

The wax figure production process is very complex and expensive, industry insiders told Yicai. In addition, Madame Tussauds venues are usually located in prime locations with high rents, resulting in high operational and maintenance costs, they noted, adding that the main income sources are entrance tickets and merchandise, so revenue is directly tied to visitor numbers.

As the demand for experiences has risen, wax museums that lack interactive capabilities are losing out to other entertainment attractions, the people said. Compared with popular film industry venues, such as theme parks connected with The Walt Disney Company and Universal Studios, wax museum merchandise sales are also low, they pointed out.

Founded in London in 1835 by French-born Marie Tussaud, Madame Tussauds is owned by Merlin Entertainments, a large UK-based global attractions company that was bought by a group of private equity firms, including Blackstone and the Kirkbi investment vehicle of the Lego family, in a GBP5.9 billion (USD7.5 billion) deal in 2019.

Editors: Tang Shihua, Martin Kadiev