Thai group offers tasty Bazaar
By Xiao Feng |
May 16, 2011, Monday
|
Print Edition
Print Edition
CHAROEN Pokphand Group, owner of CP Lotus and Super Brand Mall, on Saturday unveiled its first high-end food retail brand in Shanghai to offer a different and unique shopping experience in China.
Thailand's biggest conglomerate launched the Bazaar of Lotus in Xintiandi, some six months after it had been planning to launch a high-end brand in Shanghai "to enrich our business structure," said Kunioka Michio, senior vice president of marketing.
Several food sellers offering a diversity of tastes will also operate stalls in the 3,200 square meters of Bazaar of Lotus, which also include areas for recreation and relaxation such as musical performances, according to the company. Kunioka said that 70 percent of the food sold in Bazaar are imported.
"Competition is already fierce among high-end supermarkets in Shanghai," said Kunioka. "Thus we chose to test the water with a hybrid model."
The CP Group, which started supermarket operations in China in 1997, plans to expand the Bazaar model to more inland cities as their spending power grows. It now has over 70 CP Lotus supermarkets across the country.
Overseas supermarket chains are keen to capture a slice of Shanghai's high-end retail business to cater to rising consumer demand. They include City Shop and City Super, ParknShop's Taste, and China Resources Vanguard's Ole'.
Retail sales of consumer goods in Shanghai reached 161.8 billion yuan (US$24.9 billion) in the first quarter, 12.9 percent higher from last year, the city's statistics bureau said in April.
Thailand's biggest conglomerate launched the Bazaar of Lotus in Xintiandi, some six months after it had been planning to launch a high-end brand in Shanghai "to enrich our business structure," said Kunioka Michio, senior vice president of marketing.
Several food sellers offering a diversity of tastes will also operate stalls in the 3,200 square meters of Bazaar of Lotus, which also include areas for recreation and relaxation such as musical performances, according to the company. Kunioka said that 70 percent of the food sold in Bazaar are imported.
"Competition is already fierce among high-end supermarkets in Shanghai," said Kunioka. "Thus we chose to test the water with a hybrid model."
The CP Group, which started supermarket operations in China in 1997, plans to expand the Bazaar model to more inland cities as their spending power grows. It now has over 70 CP Lotus supermarkets across the country.
Overseas supermarket chains are keen to capture a slice of Shanghai's high-end retail business to cater to rising consumer demand. They include City Shop and City Super, ParknShop's Taste, and China Resources Vanguard's Ole'.
Retail sales of consumer goods in Shanghai reached 161.8 billion yuan (US$24.9 billion) in the first quarter, 12.9 percent higher from last year, the city's statistics bureau said in April.
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