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Chinese retailer hits US

Chinese company Yosen Group has opened its first US flagship store – in Flushing, New York.

Yosen specialises in wholesale distribution and retail sales of computers, communication and consumer electronics products in Eastern China.

The store is operated by its subsidiary, Yosen Trading, established in January 2014.

“By establishing our operations in the US, we can fully utilise our available resources in Yiwu, Zhejiang Province, and create new revenue streams with minimum cost,” said Yosen’s CEO Zhenggang Wang.

“The international trade business can also diversify our business portfolio and reduce the company’s otherwise concentrated exposure to the electronics market in China.

“We chose building supplies as our first line of products for our international trade business, because we think New York’s real estate market offers a substantial upward potential, and we believe that now is the right time to take advantage of this market,” he said.

The company plans to expand outside New York and grow its international trade business.

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