The Shenzhen-based retailer Jiahua Stores has announced the opening of the group's 14th outlet on Chinese mainland in Foshan, Guangdong Province.
Located in the Shunde District of Foshan City, the new Jiahua Ronggui store is a three-floor store with a business area of 10,147 square meters and about 90 parking spaces. The store includes a department store area and a supermarket area, plus additional features aimed at providing consumers with one-stop shopping services.
Zhuang Lukun, chairman of Jiahua Stores, said that as the group had already opened a store in Yanbu in Foshan in January 2008, its retail network in Guangdong and the Pearl River Delta had been enlarged further and the group hoped the newly opened Jiahua Ronggui store would further meet the demand of consumers in this area, so as to increase the group's market share in this marketplace and to promote its sales and profit growth.
With regard to the future development of the group, Lu said that even allowing for the global economic decline, the group was optimistic about China's retail market. So far, the group has opened 14 outlets in its home base Shenzhen, and in other cities of Guangdong, and it planned to open two more new stores in Panyu, Guangzhou and Nanning, Guangxi,at the end of 2008 or at the beginning of 2009. In the future, the group will continue to extend its retail network and market share by various methods including joint operations, mergers, and acquisitions.