Chinese supermarket chain Yonghui is planning to open six new stores before the end of 2013.
The first three of these have already opened at Wanda Plaza in Beijing, where it already has 16 supermarkets. The other three are set to open in Harbin, Xi’an and Nanjing.
Each supermarket will boast a retail floor area of somewhere between 8,000m²and 15,000m².
Yonghui has stated that it aims to operate 350 stores with a sales revenue of RMB50bn (US$8.1bn) by 2014.
Meanwhile, Chinese retailer Renrenle is planning to open community stores, which are fast becoming a favoured format by companies due to their popularity among senior citizens and workers.
Renrenle currently operates hypermarkets and supermarkets, as well as department stores, but this will be its first in this new format.
“The company achieved profitability this year owning to costs and expenditures reduction, we should have new development strategy if we want to get through the retailing-slow-growth period,” a company insider is reported to have said by Inside Retail Asia.
CR-Vanguard, which operates around 450 supermarkets in Chin and Hong Kong, also plans to open 50 community stores in Guangzhou.
No comments yet