Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

China Retailer Gome Enters Hong Kong Market
Oct 31, 2003
 Printable format
 Email this Article
 Search

The largest chain-store operator of household goods on the Chinese mainland set up its first flagship store in Hong Kong. Gome Home Appliances is ploughing a total investment of more than HK$50 million (U.S. $6.4 million) into the venture.

"The newly-opened Gome home-appliance store in Hong Kong will be marked as the springboard for the company's overseas expansion plan," said Li Juntao, the purchase center general manager of Gome Home Appliances.

Along with international brands most favoured by Hong Kong consumers, the new five-storey Gome store is selling domestic brands as well. Mr. Li said the company is planning to list on the Hong Kong stock exchange, possibly next year. It aims to establish three to five chain stores in Hong Kong in the next 2 to 3 years, grabbing 20 to 30 percent market share.

Wang Junzhou, general manager of Gome's Hong Kong store, expected the store to generate HK$800 million ($76.9 million) to HK$1 billion ($128 million) in sales during the first year, with an estimated net profit rate of 3 to 5 percent. (China Daily)

Back to Daily News

 

Daily News

...........................................................

Oct 30, 2014: Whirlpool Corp. reports strong third-quarter

Oct 30, 2014: Consumer Confidence Index rebounds in October

Oct 29, 2014: New home sales up slightly in September 2014

Oct 29, 2014: Restaurant customers are using technology more frequently

Oct 29, 2014: Canadian HVAC/R wholesaler sales up 5.3% so far in 2014

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

October 2014: Portrait of the European Appliance Industry
September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014
May 2014: Appliance Magazine Market Insight: March 2014




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows