CHINA: CRE invests HK$330m to withstand competition from local supermarket rivals
Chinese retailer China Resources Enterprise (CRE) has earmarked investment of HK$330m (US$42.3m) to ramp up its investment in its Hong Kong supermarket operations over the coming two years. Around 30 new stores will be added to the existing 73 by the end of next year, while HK$180m will also be spent on upgrading stores already in operation. "We want to improve the image of our supermarkets, making them modern and fashionable," said Raymond Chan, China Resources Supermarket (Hong Kong) director and deputy general manager.
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