Planet Retail 29 Jul 2008

Carrefour has announced plans to open 20 to 25 hypermarkets in China annually over the next few years in order to increase its market penetration. The retailer said it was upbeat on the mainland economy, particularly domestic consumption. "We opened more than 20 stores last year, so basically we are going to keep this development momentum," said Carrefour spokesman Chen Bo. With growing urbanisation, the potential for hypermarkets remained strong and Carrefour will reach out to second, third and even fourth-tier cities, according to Chen.

Copyright www.PlanetRetail.net [1]