China Resources Vanguard, the hypermarket subsidiary of China Resources (Holdings) Company, has opened the final outlet in its expansion plan for Guangzhou in 2009 and is looking to open around 360 new outlets in 2010.
A representative from CV Vanguard told local media that the company had opened about 100 outlets in the fourth quarter of 2009. Following the opening of its first high-end supermarket Ole in Guangzhou's Taikoo Hui, Vanguard's second Ole supermarket in the city is now the subject of negotiations. In addition, the company is planning to open a fresh-food supermarket in Guangzhou.
According to Vanguard, 2010 will be a year of rapid growth for the company and it plans to open 60 new hypermarkets and 300 standard supermarkets during the year.