Balian talks expansion before market debut
26 November 2004
Bailian Group, the result of the merger of Shanghai Number One Department Store and Shanghai Hualian, said it planned to expand its retail network to 10,000 stores by 2010. That would mean a near 50% increase in outlets, part of the company's plans to counter expansion by Wal-Mart and Carrefour. In December, all restrictions on foreign retailers will be lifted. Balian Chairman Zhang Xinsheng announced the plan ahead of Shanghai Bailian Group's debut in the market this week the company's first exchange appearance since trading was suspended in Shanghai Number One and Shanghai Hualian in April, ahead of the merger.
Bookmark and Share:
