Chinese electronics chain department store Buynow has announced plans to accelerate its deployment plans in 2009 with the company planning to open at least five large IT stores in such cities as Beijing, Shanghai, and Qingdao.
Although the current economic situation is not optimal, Buynow has still decided to accelerate its expansion. The company plans to develop at the speed of at least five stores each year in the next three years. By the end of 2009, Buynow will have had 20 outlets on the Chinese mainland. Local media also reports that Buynow generated revenue of NTD3 billion in 2008, which increased by 44% compared with that of 2007 and the growth rate is expected to be 40% in 2009.
Founded in 1998 and invested by notebook original equipment manufacturer Clevo, Buynow is one of the most prominent IT malls in China with more than 10 IT malls in Shanghai, Nanjing, Chengdu, Shenyang, Zhengzhou, Tianjin, Hefei, Hangzhou, Guangzhou, and Changchun.