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Metro to open 12 stores this year
By Ding Yining |
17:29 UTC+8 April 9, 2013
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Online Edition
Online Edition
SELF-SERVICE wholesaler Metro Cash & Carry said it will open at least 12 new stores in China this year.
This is the same expansion pace as in 2012, as urbanization continues to fuel consumer spending.
Uwe Hoelzer, president of Metro China, said the company will not slow down its expansion pace, adding that there is still huge room for growth.
"We hope to take more market share from the wholesale market place, especially in second and third tier cities where consumers are also starting to pay attention to product quality," Hoelzer said in an interview in Shanghai today.
Last month, Metro Cash & Carry said its China sales grew by 23 percent in 2012 to 1.89 billion euros (US$2.44 billion), contributing about 6 percent to its global sales.
Metro China currently has 63 stores on Chinese mainland and sales from individual consumers accounts for about 50 percent of its revenue.
This is the same expansion pace as in 2012, as urbanization continues to fuel consumer spending.
Uwe Hoelzer, president of Metro China, said the company will not slow down its expansion pace, adding that there is still huge room for growth.
"We hope to take more market share from the wholesale market place, especially in second and third tier cities where consumers are also starting to pay attention to product quality," Hoelzer said in an interview in Shanghai today.
Last month, Metro Cash & Carry said its China sales grew by 23 percent in 2012 to 1.89 billion euros (US$2.44 billion), contributing about 6 percent to its global sales.
Metro China currently has 63 stores on Chinese mainland and sales from individual consumers accounts for about 50 percent of its revenue.
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