Mannings, the Hong Kong retail giant, has opened its first shop in Shanghai, marking the beginning of the company's expansion in mainland China.
Li Liangmei, a senior Mannings executive, said that the company owns more than 200 shops in Hong Kong and its 50 mainland shops are mainly located in South China. The company is planning to expand its business in the mainland over the next three to five years and it will focus on the markets of East China, Chongqing, Chengdu, and Beijing.
Mannings' biggest competitor, Watsons, has comparable major products, store design, and operational model to Mannings. Compared with its rival, which entered the mainland market early in 1989 and has opened more than 200 stores in this marketplace, Mannings' development in mainland China is a major challenge. Commenting on this situation, Mannings said that with their adequate funding and sustainable human resources, they are confident in its expansion in mainland China.
Mannings belongs to the large-scale retail conglomerate Hong Kong Dairy Farm Group, whose business extends all over Asia. With an annual revenue of USD1 billion, over 2,500 stores, and 60,000 employees, the Dairy Farm Group manages muliple brands, including Wellcome, Ikea, 7-11, Maxim's, Starbucks, Guardian, Hero, and Cold Storage.