Test Rite Group, one of the biggest retailing merchants in Taiwan, has formally set up its mainland head office in Shanghai.
He Tangxiong, chairman of Test Rite Group, says that they will speed up expansion in the mainland China and have 30 HOLA stores in China by 2008.
Test Rite Group had also just acquired 60% of the stake of famous Taiwan-based lock company Donglong Hardware. This year, the total outsourcing of Test Rite Group from mainland China reached RMB4.8 billion. Test Rite Group's main clients include Wal-Mart, B&Q, Metro and Leroymerlin.
Gu Yihua, general manager of HOLA, says that there will be 7 HOLA stores opened in mainland China by the end of this year, and two stores will be opened in Beijing next year, one of which will be located in Laiguangying, and the other near the IKEA Siyuanqiao store.