Beijing-based supermarket chain Chaoshifa has announced plans to open a flagship store with an area of nearly 10,000 square meters in Beijing's Fengtai District.
As a supermarket chain that formerly focused on small community supermarkets, Chaoshifa said the new supermarket is its largest store and marks the beginning of its 2009 flagship store strategy.
Chaoshifa currently has nearly 70 outlets in Beijing, of which, 49 are located in the Haidian District. Li Yanchuan, president of Chaoshifa, told local media that as a community supermarket chain, Chaoshifa's positioning is taking Haidian as its base, extending to the entire city of Beijing, and opening stores along the Zhangjiakou-Xuanhua line.
According to Li, the company plans to open about seven large-scale flagship stores this year and will accelerate the upgrading of its distribution center.
Statistics showed that Chaoshifa's revenue increased by about 5% year-on-year in the first quarter of 2009.