CR Vanguard held an investment promotion conference for its three shopping centers, which have a total area of over 100,000 square meters, at Sheraton Changsha Hotel in Changsha, Hunan Province on November 29, when it also announced its long-term development plan and business strategy concerning shopping center expansion in the province. It planned to open 15 new stores in the coming three years, make its total store count to 30 by 2016 and realize a sales volume of 3.1 billion yuan.
 

“One of the shopping centers is located in Zhuzhou and the other two in Changsha. It is the first time that our company attracts investment for three shopping centers at the same time. As we start up late in Hunan, we will quicken our pace of expansion,” said Xiao Hanhua, general manager of CR Vanguard responsible for the retailer’s business in southern China.
 

Xiao Hanhua said that CR Vanguard already had two stores in Changsha—Xiangfu Branch and Shiji Jinyuan Branch—and it planned to open two stores in Changsha (39,000 square meters) and Zhuzhou (more than 50,000 square meters) in October, 2012. For the other store in Changsha, CRV just won the right to use its land and it will accelerate the project development from designing to construction.
 

The retailer will continue its expansion in second- and third-tier cities, such as Xiangtan, Hengyang and Huaihua.