The infant's and children's supplies retailer, Les Enphants, has announced its latest expansion plans and states it will open 220 to 250 new stores in mainland China in 2010.
The company estimates that, in 2009, it will have achieved a revenue growth of 20% year-on-year in the mainland market: reaching CNY700 million. The revenue growth for 2010 is predicted to be between 20% and 25%, reaching a total of CNY850 million.
By the end of October 2009, Les Enphants had developed 1,381 outlets in mainland China. Of these outlets, 185 were opened in 2009 and by the end of this year, the total number is expected to reach about 1,400. For the Taiwanese market, the company has opened 279 stores, with only five newly opened stores in 2009.
Les Enphants said it had not taken store expansion as its major operating goal for 2009. Instead, it focused on store quality adjustment and costs reduction to improve its profitability. However, the company still made revenues of CNY590 million from the mainland market in the first three quarters of 2009, a year-on-year increase of 20%.