China Resources Enterprise signed an agreement with Jiangxi Hongkelong Group on July 29, 2011 to purchase the department store and supermarket businesses of Jiangxi Hongkelong Department Store Investment Co., Ltd. CR Vanguard has officially taken over the above businesses recently and its branch in East China region will be responsible for their management.

CRV will start remodeling Hongkelong stores in 2012, including their logos and internal decorations. In addition, it will also improve their operation philosophy, product mix, supporting services and marketing tools. The original Hongkelong stores will become CR Vanguard-branded ones when they are re-opened.

Source:chinaretail.org