Golden Eagle has soaring ambitions
By Cao Qian |
April 9, 2011, Saturday
|
Print Edition
Print Edition
HONG Kong-listed Golden Eagle Retail Group Ltd, an upmarket Chinese department store chain operator, yesterday said it will at least double its portfolio on the Chinese mainland within the next three years.
The Nanjing-based retailer, which currently operates 21 stores in 15 cities, including Shanghai, Xi'an and Kunming, will add another 20 to 30 outlets on the mainland over the coming three years, said Roger Wang, chairman and chief executive officer of Golden Eagle.
"The next couple of years will be of critical importance to us, and we will definitely accelerate our pace to further strengthen our presence with a keen focus on second- and third-tier cities where economies will continue to boom," Wang said. "In three years, the total retail space managed by Golden Eagle will hopefully triple to 1.5 million square meters from the current size of 500,000 square meters."
In particular, the provinces of Jiangsu, Shaanxi and Anhui, as well as Kunming in Yunnan Province, will be some of the key markets for Golden Eagle, the company said.
Last year, sales registered at Golden Eagle chain stores jumped 30 percent to 12.67 billion yuan (US$2 billion).
The Nanjing-based retailer, which currently operates 21 stores in 15 cities, including Shanghai, Xi'an and Kunming, will add another 20 to 30 outlets on the mainland over the coming three years, said Roger Wang, chairman and chief executive officer of Golden Eagle.
"The next couple of years will be of critical importance to us, and we will definitely accelerate our pace to further strengthen our presence with a keen focus on second- and third-tier cities where economies will continue to boom," Wang said. "In three years, the total retail space managed by Golden Eagle will hopefully triple to 1.5 million square meters from the current size of 500,000 square meters."
In particular, the provinces of Jiangsu, Shaanxi and Anhui, as well as Kunming in Yunnan Province, will be some of the key markets for Golden Eagle, the company said.
Last year, sales registered at Golden Eagle chain stores jumped 30 percent to 12.67 billion yuan (US$2 billion).
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