UK multinational retailer Tesco has announced plans to expand its property-owned chain of stores in southern China to between 15 and 20 outlets by 2018.
Tesco Property operation manager Chen Pei stated that his company plans to continue operating under its current policy of first purchasing land before building their own properties in the country, according to China Daily.
He also said these plans aimed to maintain sustainable development in China as a country with a fiercely competitive retail industry.
Tesco, the world’s third-largest retailer, announced the closure of four of its China outlets in August last year, claiming that this move would better serve consumers in “strategically important areas”.
However, it has since opened more stores, the most recently a large shopping mall on 28 April this year in the capital of southern China’s Guangdong province, Guangzhou. This was its ninth outlet in the southern region.
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