German retail giant Metro AG announced the opening of its 64th Chinese supermarket in Huangdao district of Qingdao, Shandong province.
This project is reportedly Metro’s second cash and carry supermarket in Qingdao. Located in Huangdao district, the new project covers an area of 33.54 mu [~2.2 ha] and its planned total construction area is about 10,000 square meters. The target customers of this supermarket include buyers from restaurants, hotels, food businesses, non-food trading service providers, government, and other enterprises and organizations.
With its opening, the supermarket will provide over 17,000 kinds of food products as well as over 30,000 kinds of non-food products. Metro invested a total of EUR12.1 million [US$16.1 million] in this project and its registered capital is EUR7.5 million [US$10.04 million].
Metro Group is one of the most important international retailing companies. It has 280,000 employees from 180 nations working at over 2,200 outlets in 32 countries in Europe, Africa and Asia. The portfolio of its strong sales brands offers a wide range of services for private and commercial customers. As a Fortune 500 company and a leader in the global wholesales market, Metro is known for its cash and carry supermarkets in China. In 2010, the revenue of Metro’s cash and carry supermarkets reached EUR31 billion [US$41.5 million], accounting for over 50% of the total revenue of the group.
Source: China Retail News Jan 2013