China Resources Vanguard news

24 March 2020
CR Vanguard has launched a new community supermarket format, Vanguard LIFE in Shanghai, China. Goods + Services approach Vanguard LIFE focuses on meeting the mealtime and cooking needs of shoppers. The banner carries a strong proportion of fresh food and other food categories, plus a carefully selected range of personal care and household cleaning items. The banner targets nearby residents,...
16 March 2020
The sale of a majority stake in Hong Kong-based supermarket chain City’super has attracted interest from CR Vanguard and Yonghui, Bloomberg reports. Hong Kong's landscape may consolidate Earlier this year , Bloomberg reported that Fenix Group was looking for potential buyers to sell its majority stake in City Super Group. The first-round of bids could be as soon as later this month. CR ...
25 February 2020
Tesco has announced it will exit its joint venture with China Resources Holdings in China, which it established in 2014. Sale will generate £275m for additional business investment As the retailer continues to reorganise its international businesses, Tesco has agreed to sell its 20% stake in Gain Land to a subsidiary of its joint venture partner, China Resources Holdings. Gain Land is the C...
13 January 2020
CR Vanguard is expanding its new digital format, Vanguard MART, in China. Optimising digital in-store Shoppers at Vanguard MART have multiple ways to make payment, e.g. through a traditional counter or self-checkout. The latter allows mobile payment, facial recognition, QR code purchase and self-service ordering. The store features electronic shelf labels allowing staff members to adjust th...
08 October 2019
CR Vanguard has opened its third Olé boutique supermarket in Shandong province, China. Premium and imported products The new Olé store, which opened on September 28 th in Jinan Wanxiang City, covers 3,800 sq m and carries around 20,000 products. The store has an on-site dining area, with Chinese-style cooked food, salad and Japanese speciality counters. It also has a live fresh seafood are...
04 October 2017
Chinese supermarket chain Vanguard has announced plans to open new Suguo stores to fill the remaining gaps in the market, with expansion in key cities outside Nanjing also expected. Suguo increasing dominance in Nanjing CR Vanguard plans to open 700 Suguo CVC stores in China during the next five years, accelerating Suguo's coverage to over 1,800 stores nationwide, with approximately 1,000 s...
13 July 2017
Chinese supermarket chain Vanguard has announced a 50-50 joint venture on data science with Dunnhumby, Tesco's data analysis firm. Big data to drive growth The joint venture will help Vanguard better understand shopper habits and consumer behaviour so that they can target their marketing campaigns and promotions more effectively. The data analysis may also prove useful in providing importan...
15 March 2016
CR Vanguard has posted a 5% increase in its annual sales in 2015 to RMB109.4bn (US$16.8bn), whilst its store numbers dropped from 4,127 to 3,400. Expanding in convenience stores and closing underperforming supermarkets Since taking over Tesco China’s operation last year, CR Vanguard has been streamlining its business priorities, focusing on growing its convenience and community store operat...
25 August 2015
CR Vanguard, the retail division of China Resources Enterprise, has reported a 16.3% increase in turnover in its first half to HK$61,146m (US$7,888m) with a loss of HK$2,847m (US$367m), down from a HK$439m (US$56.6m) profit in H1 2014. Tesco joint venture contributes to profit hit These disappointing results reflect a variety of forces including a slowdown in the economy, increased operatio...
23 June 2015
To capture the fast growth of e-commerce, leading Chinese retailer CR Vanguard has launched a new e-commerce site ewj.com. The site offers a wide range of products, including; fresh produce, meat, seafood, bakery, household, cosmetics and electrical appliances. Currently it delivers only in Shenzhen. New service promoted through multiple channels In order to promote the new service, the ret...