China: Spar announces expansion
Dutch multinational retailer Spar International has announced a new partnership in China with Yunnan Anning Jinfang Commercial Group (Jinfang), with plans to open 32 new stores in the country.
The new partner, Jinfang, operates in the retail sector in China and will invest in converting 32 of its stores into the Spar brand in the coming months.
With the agreement, the companies will be able to combine their strengths: Spar’s global retail expertise and Jinfan’s knowledge of the local market.
Wang Peihuan, chairman of Spar China said: “Our new partnership with Jinfang is consistent with Spar China’s strategic focus on accelerating expansion and growing presence. Together we unite the best of Spar’s global retail expertise and Jinfang’s extensive and longstanding understanding of the local customer to grow Spar presence in Southeast of China”.
Spar China reported an increase in sales in 2016 (6.7%) and a growth in store numbers of 14%. According to Spar, 14% of its total selling area of Spar worldwide is in China.
Source: Spar International