Yonghui Superstores opened 7 new locations in just 3 days, further accelerating its expansion rate after its IPO. The move went against the decline of the whole retail industry and also surprise other retailers. The Fujian, Fuzhou-based supermarket brand has started business in nine regions across China, including Beijing, Chongqing and Anhui Province.

 

In an interview via email, representative from Yonghui’s secretariat of the board said yesterday, “We have a wide range of business formats, national direct procurement system of fresh food and research and development institute for keeping food fresh. We have also standardized our business model, which can be easily copied by stores outside Fujian Province.”

 

He also said that ended on December 25 Yonghui opened 42 new stores in 2011.

 

Yonghui Superstores planned to open around 50 new storesand make its store count exceed 200 in 2011, according to its annual report of 2010.