Japan-based convenience store operator Family Mart has joined hands with Ting Hsin Group to extend its business in southern China.
A joint venture named Guangzhou Family Mart Company will be formed by Ting Hsin, Taiwan Family Mart Convenience Store, ITOCHU Corporation and Family Mart in Guangzhou with a total registered capital of RMB80 million. Ting Hsin holds 50.5% of the stake of this company.
Guangzhou Family Mart plans to open more than one hundred stores within three years and extend its business to all major cities around the Zhujiang Delta Region in five years.
With 25 years' history in Asia, Family Mart had 12881 stores all over the world at the end of August. It now has 104 stores in China.