FamilyMart To Open 100 New Stores In Shanghai In 2010March 9, 2010 | By ChinaRetailNews.com Editor | Print | Email
According to reports in local Taiwanese local, the Taiwan-based operation of franchise convenience store retailer FamilyMart plans to open at least 100 new stores in Shanghai in 2010.
Having focused on the urban areas of Shanghai, FamilyMart will accelerate its expansion in villages and towns in non-central areas of the city, to realize its expansion goal.
As at the end of 2009, FamilyMart was reported to have opened over 360 convenience stores in Shanghai, of which 110 stores were opened in 2009. So far, the company has completed its logistics network in Shanghai and Suzhou, laying a good foundation for its outlet development in east China.
In 2009, FamilyMart made total revenues of NTD39.2 billion in Taiwan, an increase of 3.62%, and the company is expected to achieve a 5% profit growth in 2010.
Founded in Japan in 1972, FamilyMart is one of the largest convenience store chains in Asia. It entered the Chinese mainland market in July 2004, with the first outlet being opened in Shanghai.