Ben Shipley points out <a href="http://bubbler.net/5A-notes/602296/671569/" title="Ben Shipley: Front of House">an interesting intersection</a> (literally):

<quote>As giants like Louis Vuitton, Armani, Cartier and Zegna pour money into flagship offerings on the Bund or Nanjing Lu it is great to see the retail evolution playing out in other areas of Shanghai. The emerging retail cluster around the Hauihai/Sha'anxi intersection provide fine examples.</quote>

One block north of that interesection are both Garden Books, and the Thing.  Two blocks north at Yan'an Rd is the fairy-tale Moller House.  Huaihai/Shaanxi Rd is definitely in the thick of things.