Chinese traditional medicine ancient brand Beijing Tongrentang has formally set up its first retail store in Kunming, Yunnan.
According to a spokesperson for Tongrentang, the Kunming outlet is the company's pilot store in this market. Facing competition from local medical chains, Tongrentang will rely on its three advantages – brand, culture, and variety. The store is expected to break-even in the first year of its operation and will spend one to two years to develop the market. If the store cannot realize profits in three years, it will be closed.
Founded in 1669, Beijing Tongrentang is an honored brand in traditional Chinese medicine industry. After 300 years' of development, the company had acquired total assets of CNY8.7 billion by 2007. It currently manages businesses in three major industries, including modern pharmaceuticals, retail medicine, and medical services.