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Bailian to compete by opening more malls
By Jin Jing |
February 24, 2011, Thursday
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Print Edition
Print Edition
CHINA'S largest retail conglomerate Bailian Group plans to expand by opening more shopping malls and outlets as it bids to compete with overseas retail giants like Isetan and Marks & Spencer.
The Shanghai-based group, which runs supermarkets, department stores and shopping centers, aims to have eight to 10 outlets nationwide with a combined revenue of 8 billion yuan (US$1.2 billion) by 2014, said Li Guoding, general manager of Shanghai Bailian Group Co Ltd.
It now has two outlets nationwide in Zhaoxiang, a suburb of Shanghai, and in Hangzhou. Another two outlets in Wuhan and Wuxi are due to open within two years as the group eyes expansion to more second-tier cities.
Bailian has also identified shopping malls as another priority as the company seeks opportunities in the Hongqiao Business Hub, Expo area and the Disneyland theme park in Pudong.
"We want to strengthen our presence in Shanghai and actively expand to the east China region and the whole nation," said Ma Xinsheng, chairman of Bailian.
Last year, iconic British retailer Harrods was reportedly mulling to open its first Chinese store in Shanghai, following rival Marks & Spencer which entered in 2008. Japanese retailer Isetan Mitsukoshi Holdings Ltd also plans to more than double the number of Isetan department stores to 10 on the Chinese mainland by 2015.
In order grow faster, Ma said Bailian is consolidating and tapping more mergers and acquisitions nationwide.
The Shanghai Municipal Commission of Commerce has agreed for Shanghai Friendship Group to merge with Shanghai Bailian Group. Bailian also merged its two supermarket chains, Lianhua and Hualian, in 2009.
The Shanghai-based group, which runs supermarkets, department stores and shopping centers, aims to have eight to 10 outlets nationwide with a combined revenue of 8 billion yuan (US$1.2 billion) by 2014, said Li Guoding, general manager of Shanghai Bailian Group Co Ltd.
It now has two outlets nationwide in Zhaoxiang, a suburb of Shanghai, and in Hangzhou. Another two outlets in Wuhan and Wuxi are due to open within two years as the group eyes expansion to more second-tier cities.
Bailian has also identified shopping malls as another priority as the company seeks opportunities in the Hongqiao Business Hub, Expo area and the Disneyland theme park in Pudong.
"We want to strengthen our presence in Shanghai and actively expand to the east China region and the whole nation," said Ma Xinsheng, chairman of Bailian.
Last year, iconic British retailer Harrods was reportedly mulling to open its first Chinese store in Shanghai, following rival Marks & Spencer which entered in 2008. Japanese retailer Isetan Mitsukoshi Holdings Ltd also plans to more than double the number of Isetan department stores to 10 on the Chinese mainland by 2015.
In order grow faster, Ma said Bailian is consolidating and tapping more mergers and acquisitions nationwide.
The Shanghai Municipal Commission of Commerce has agreed for Shanghai Friendship Group to merge with Shanghai Bailian Group. Bailian also merged its two supermarket chains, Lianhua and Hualian, in 2009.
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