JAPAN/CHINA: FamilyMart opens first stores in China's interior
- FamilyMart opens first stores in Sichuan
- Retailer targets 8,000 outlets in China by 2020
Japanese c-store retailer FamilyMart has opened its first outlets in China's interior.
FamilyMart said yesterday (25 June) it had opened three stores in the province of Sichuan in central China.
"The current move into the country's interior is in line with our aims to accelerate development in China," the retailer said.
The retailer, which had 900 stores in China at the end of May, wants 1,200 outlets in the country by the end of its 2012 financial year.
It has also set out two longer-term targets: 4,500 outlets by fiscal 2015 and 8,000 by fiscal 2020.
The announcement of the new stores in China follow news last week that FamilyMart is looking to open more outlets in South Korea. FamilyMart has struck a fresh deal with South Korean partner Bokwang that will see a new chain opened and plans for more stores in "market niches" in the country.
First Stores Open in Chengdu, Sichuan Province in FamilyMart's First Foray into China's Interior
FamilyMart announces the opening of three stores on June 25, 2012, in the city of Chengdu, Sichuan Province, the People's Republic of China: the Qinghua Road Store, the Dongjiawan North Street Store and the Qingyang East One Road Store. These stores, the chain's first in the interior region, are part of an effort to strengthen FamilyMart's operations throughout China.
Establishment of Chengdu FamilyMart Co., Ltd., which combines the best of China, Taiwan and Japan
A holding company named China CVS Holding Corp. (CCH) has been established in China, through investment by three companies: FamilyMart Co., Ltd., Ting Chuan Holding Corp., and Taiwan FamilyMart Co., Ltd. Chengdu FamilyMart Co., Ltd., which is wholly owned by CCH, was established in December 2011 to operate the stores in Chengdu.
This unit is our fifth overseeing regional operations in China, following establishment of companies for the Shanghai, Guangzhou, Suzhou and Hangzhou markets.
FamilyMart stores in China leverage the distribution infrastructure of our partner, the Ting Hsin Group-a leading Chinese food products group-and more than 20 years of expertise cultivated through the operation of Taiwan FamilyMart, which was established in 1988. We combine these with assets cultivated in Japan, such as our trademark customer hospitality and production know-how in ready-to-eat items as bento, rice balls and oden hodgepodge. The new company will draw on the expertise of each of these partners. The Chengdu FamilyMart stores will also offer original ready-to-eat favorites from Sichuan Province.
1,200 stores in China by the end of fiscal 2012, and 8,000 by the end of fiscal 2020
FamilyMart opened its first store in China in Shanghai in July 2004. Since that time, we have expanded our operations into the Guangzhou, Suzhou and Hangzhou markets. As of May 31, 2012, FamilyMart stores in China numbered 900, and we plan to increase this figure to more than 1,200 by the end of fiscal 2012.
Globally, stores operated by the FamilyMart Group surpassed 20,000 in fiscal 2011. By fiscal 2015, we plan to increase this number to 25,000 (including 4,500 in China), rising further to 40,000 (including 8,000 in China) by fiscal 2020. The current move into the country's interior is in line with our aims to accelerate development in China.
FamilyMart remains committed to the customers it has cultivated to date, while also offering new customers "convenience, friendliness and fun" through convenience stores with the "FamilyMart feel."
Original source: www.family.co.jp
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