Taiwan’s Ruentex Group and a subsidiary of Sinopec Corporation have partnered to develop a convenience chain business in China.
Ruentex operates hypermarket chains RT-Mart and Auchan and C-store convenience chain, while Sinopec Corporation is petrochemical enterprise group, with more than 30,000 gas stations in China and also operates Easy Joy convenience stores.
Easy Joy convenience stores are not performing, prompting Sinopec to find an experienced retail partner.
Sinopec’s subsidiary and Ruentex agreed to cooperate in product procurement and e-commerce development. They’ll use Easy Joy stores in Shanghai as a pilot for cooperation.
