China 3C Group, a reseller and distributor of consumer and business products in China, has announced that it has signed a store-in-store retail agreement with Yongle China Appliance Sales Co. Ltd.
According to the agreement, 3C Group is expected to open 30 stores within Yongle's retail locations this year. 3C's main products that will be sold in these stores include Fengda, Fengye, Saijie, and Samsung fax machines, and Yingyin currency counting machines.
Yongle, headquartered in Shanghai, is a domestic home appliance chain with retail locations in Shanghai, Jiangsu, Zhejiang, Guangdong, Shenzhen, Fujian, Henan, Sichuan and Shanxi among other locations. Some of the products sold in its stores include home appliances, individual consumer electronic equipment and electronic office equipment. Yongle has become China's third largest appliance chain enterprise (behind Gome Appliance and Suning Appliance), with 220 retail locations, mainly located in large and medium cities in economically developed provinces. Among the major cities it services, Yongle has 60 retail locations in Shanghai, 33 in Jiangsu, 23 in Zhejiang, 4 in Anhui, 33 in Henan, 27 in Fujian and 20 in Guangdong.
China 3C is a wholesale distributor and retailer operating over 900 retail outlets in eastern China. The Company specializes in selling 3C products which include: cell phones and accessories, fax machines and printers, consumer electronics, computer and computer-related products and small home appliances.
Jie Tang, Yongle's head of purchasing, said, "It's our honor to be working with 3C Group. We believe this agreement can serve as the beginning of a broader cooperation between the two entities. We look forward to strengthening our relationship with 3C Group and will continue to evaluate the possibility of including 3C products into a larger number of our retail stores."
As of the end of the 2008 first quarter, China 3C Group had a total of 970 "store-in-stores". The Company estimates that its net number of store-in-stores will exceed 1,000 in by the end of the second quarter, after adjusting for store-in-store openings and closings.
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