German retailer Metro has set a new record in China, opening four stores in just one week.
The new cash-and-carry stores in Huai’an, Guangzhou Panyu, Nanchang Honggu and Zibo increased Metro China’s network to 69.
Metro says China, considered the growth engine of the world’s economy, represents an important expansion market for the company. In 2012 alone, the wholesale company opened 12 new stores in China.
“The Chinese market continues to be characterised by a high momentum which we are utilising for the implementation of our ambitious expansion plans,” said Uwe Hölzer, MD of Metro China.
“We are investing into the relationships with our customers, increasing the value added for the customer and thereby improving our competitiveness,” added Hölzer.
Metro focuses in particular on China’s eastern and southern regions. With the opening of the store in Huai’an, the wholesaler is now operating 32 stores in the east, half of them in the densely populated province of Jiangsu which ranks among the nation’s most affluent regions.
The retailer has already established a dense distribution network of 13 stores in southern provinces.
Metro opened its first China store in 1996 in Shanghai. Last year’s sales exceeded €1.8 billion (US$2.4 billion).