China Resources Vanguard, the retail subsidiary of China Resources (Holdings) Company, has announced that in 2010, the company opened over 450 new stores and realized sales of CNY71.8 billion.
Vanguard's newly-opened stores reportedly include about 60 large supermarkets; nine high-end supermarkets under the brands of Ole' and Blt; one Fun2 shopping mall; and 70 CR Care stores.
Vanguard revealed that in 2011, it plans to open over 400 new outlets, including 70 to 80 large supermarkets and ten high-end supermarkets. It will complete its debuts in cities, including Guangzhou, Chongqing, Shenyang, and Jinan. It will also introduce its Vivo+ and Pacific Coffee brands into the Chinese mainland market.
Vanguard said that during the year 2010, its high-end supermarket brand Ole' entered Shanghai, Hangzhou and Ningbo for the first time. Its development layout was expanded with new marketplaces like Hubei, Shanghai, and Inner Mongolia, in addition to newly signed projects in Shanxi and Heilongjiang.
By the end of 2010, Vanguard has reportedly opened stores in 27 provinces, autonomous regions, municipalities, and special administrative regions in China. Its over 3,200 outlets cover more than 100 key cities. In addition, it established 51 bases for direct procurement from farmers in 15 provinces, over ten food security model stores, and over ten energy-saving model stores.