Consumers in Shanghai, Guangzhou, Shenzhen and Chengdu will soon be greeted with a new fresh food shopping experience as JD plans to open 16 new locations for its premium 7Fresh stores…Full Article: Fruitnet Sept 2018 Key Point Fresh produce reportedly comprises 70% of 7Fresh’s store products, with 20% originating from international suppliers. ChinaAg Comments In
At the end of December 2017, Yonghui Superstore gained 12% of the shares of Hongqi Chain Store through a share transfer agreement. Even though it has not even been half a month since then, Yonghui has once again joined hands with Hongqi Chain Store, as it spent a total of 16,6 billion yuan to acquire
Global retailer Carrefour on Thursday [21 December 2017] denied media reports that it will sell its businesses in China, Argentina and Poland, Reuters reported. The information is false, a group spokesman said, when asked about a report by French monthly magazine Capital…Full Article: ENCS.cn Dec 2017 Key Point In 1995, France’s Carrefour entered mainland China.
Retailers Wal-Mart Stores Inc. and JD.com Inc. and technology gurus IBM Corp. and Tsinghua University have kicked off a collaboration to track food information and enhance food safety in China using blockchain technology. The four have established the Blockchain Food Safety Alliance, which allows companies to share information that is then stored by blockchain —
Tencent Holdings has agreed to purchase a stake in one of China’s largest supermarket chains, Yonghui Superstores, in the latest move to step up the war with Alibaba Group Holding in the “new retail” battleground of online-offline shopping…Full Article: South China Morning Post Dec 2017 Key Points As of December 2017, YH Super Species (est.
A partnership between French retailer Auchan and internet giant Alibaba could push Carrefour further behind in China and could even persuade its new boss to pull out of the country. Alexandre Bompard took the helm at Carrefour, the world’s second-largest retailer behind Walmart, in July; on Jan 23, 2018, he will unveil his turnaround plan
Lotte Corp said on Monday [6 November 2017] that a major property development in China had received approval from local authorities to start a second phase of construction – the latest sign that tension between China and South Korea is easing. The announcement comes one week after an unexpected detente between the two countries, which
South Korea’s Lotte Group has begun steps to sell its discount store chain in China due to plummeting sales, Yonhap News Agency reported on Thursday [14 September 2017], citing company officials and an industry source. The group is reportedly in talks to sell all of its China stores and has appointed Goldman Sachs to manage
Retail veteran Chaoshifa Market has been given a new lease of life. The Beijing-based supermarket chain caters for middle-aged and senior citizen customers, and has been operating in local communities since 1997. But this month the group opened three, small outlets in Beijing with the Japanese convenience store franchise, Lawson China Holdings Inc, in a
Wal-Mart China said Wednesday [23 August 2017] it will open at least five new Sam’s Club stores in east China’s Jiangsu Province and to increase investment in the next three years to tap the growing local economy. The Wal-Mart U.S. giant yesterday signed a memorandum of understanding with the Jiangsu Provincial Department of Commerce on