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China Resources Vanguard's 2011 turnover hits RMB 82.7 bln

Jan. 17, 2012 (China Knowledge) - China Resources Vanguard Co, which is China's leading supermarket chain and a subsidiary of China Resources (Holdings) Co Ltd, said on Friday that its turnover grew 15% year on year to RMB 82.7 billion last year.

The company said in a statement that it opened 935 new stores in 2011, 108% more than that in the previous year.

As of the end of last year, the company had a total of 4,058 stores.

In 2012, the retailer aims to open 800 news stores, including 61 hypermarkets, seven Ole high-end supermarkets and 71 Pacific Coffee stores.

In December, the supermarket chain operator got the approval from the Ministry of Commerce to take over Hongkelong, a supermarket chain in China.

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