Pxmart has announced plans to increase its store count beyond 1000 by 2020.To assist with the expansion, the Taiwanese supermarket chain has appointed Xu Zhong-ren as its new chief executive officer.
Xu previously served as general manager of the President China Store Corporation, the operating company for the 7-Eleven chain in Taiwan. He will oversee an ambitious plan to open 300 new Pxmart stores over the next five years, building on the some 700 outlets the company currently operates in Taiwan.
Pxmart has outperformed rival Taiwanese-based chains such as Matsusei in recent years and is now pressuring the country’s leading supermarkets RT-Mart and Carrefour.
According to Inside Retail, RT-Mart is said to be unconcerned by Pxmart’s expansion and chief executive appointment.