Dia to stay the course after its spin-off
By Jin Jing |
July 8, 2011, Friday
|
Print Edition
Print Edition
SPANISH discount chain Dia's spin-off from Carrefour SA will not affect its business in China, a company executive said yesterday.
Dia, which began trading on the Madrid stock exchange on Tuesday after it separated from parent Carrefour, has independent supply systems, logistics and finances in China, said Jose Antonio Parra, general manager of Dia China.
The company now runs more than 400 outlets in China with a major presence in Beijing and Shanghai. It also has stores in cities like Tianjin and Suzhou.
Parra said Dia plans to expand in emerging markets like Brazil, Argentina, Turkey and, of course, China to drive growth.
Dia, the world's third largest hard-discount group, is facing strong competition in China from larger retailers like Wal-Mart and Carrefour.
Dia, which began trading on the Madrid stock exchange on Tuesday after it separated from parent Carrefour, has independent supply systems, logistics and finances in China, said Jose Antonio Parra, general manager of Dia China.
The company now runs more than 400 outlets in China with a major presence in Beijing and Shanghai. It also has stores in cities like Tianjin and Suzhou.
Parra said Dia plans to expand in emerging markets like Brazil, Argentina, Turkey and, of course, China to drive growth.
Dia, the world's third largest hard-discount group, is facing strong competition in China from larger retailers like Wal-Mart and Carrefour.
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