Auchan RT Mart aims for hypermarket leadership in China
RT Mart hopes to become the largest foreign hypermarket operator in China in 2009 through its strategy of setting up stores in rural areas in addition to stores in first and second tier cities. RT Mart China CEO MT Huang said his company will continue to expand market share in the local market and predicts that in the next decade, the company will achieve 30% annual growth in revenues and a 40% year-on-year profit increase. The company stated that it would increase its outlets to 102 by the end of this year, meeting the goal set by the company’s chairman YL Yin several years ago. Huang believes the penetration into rural areas will be the decisive factor in leading China’s wholesale market. Furthermore, the company is forecasting revenues of CNY33 billion (USD4.8 billion) and a profit of CNY1.05 billion (USD153.2 million) this year.
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