China Resources Vanguard Explained
China Resources Vanguard Company Limited
华润万家超级市场有限公司 |
| Type: | State-owned enterprise |
| Industry: | Supermarket |
| Area Served: | China |
| Key People: | Chairman Chen LangCEO Hong JieChief Operating Officer, Chen ShuoVice President Qin Dongsheng, Wang Weiyong, Lan Yi and Tang HongtaoChief Financial Officer, Min |
| Products: | Food, beverages, and daily necessities |
| Num Employees: | 14500 (Hong Kong accounts for 1000) |
| Parent: | China Resources Holdings |
| Foundation: | 14 February 1984 |
| Location: | Shenzhen, Guangdong, China |
China Resources Vanguard, doing business as China Resources Vanguard Shop or Vanguard, operates the supermarket chains of China Resources. It is the third-largest supermarket chain in Hong Kong. As of 31 December 2014, there are 4866 shops operating in Hong Kong and the mainland Chinese provinces / municipalities of Guangdong, Zhejiang, Jiangsu, Shanghai, Tianjin and Beijing.
According to market research firm EuroMonitor estimates in 2012, China Resources Vanguard supermarket market share in Hong Kong is about 7.8%. Wellcome Hong Kong's market share is about 39.8% and PARKnSHOP Hong Kong's market share is about 33.1%.[1]
On 18 August 2013, China Resources Enterprise's supermarket chain Vanguard and British supermarket Tesco signed a "memorandum of understanding", intending to set up a joint venture interest group in mainland China, Hong Kong and Macau, operating hypermarkets, supermarkets, convenience stores, liquor stores and cash and carry businesses. China Resources Enterprise took an 80% share and Tesco took a 20% share.[2]
History
- 1984: China Resources Supermarket (CR Supermarket), former name of China Resources Vanguard, was founded.
- 1991: CR Supermarket opened its first store in Mainland China.
- 2001: China Resources acquired a 72% stake in Shenzhen Vanguard Super Department Store. China Resources Supermarket merged with Shenzhen Vanguard Super Department Store.
- 2002: China Resources fully acquired Shenzhen Vanguard Super Department Store and renamed it as China Resources Vanguard Shop.[3] [4]
- 2005: Introduction of new sunflower logo.
- 2007: China Resources Holdings acquired Tianjin company China Resources Supermarket Chain.
- 2010: The first blt boutique supermarket opened.
- 2012: Vanguard launched new brand "V+ urban boutique supermarkets".[5]
- 2013: Set up joint venture with Tesco.[6]
- 2015: Sale of supermarket business to improve the performance of China Resources Enterprise.[7] Opened first U Select by Tesco store in Hong Kong.
Brands
Hong Kong
- Vanguard - standard supermarkets
- VanGO - convenience stores
- U Select - stores with at least one third Tesco products
- Voi_la! - wine cellar
Mainland China
- Vanguard - standard supermarkets
- VanGO - convenience stores
- V+ - upmarket urban boutique supermarket aimed at China's growing middle class
- blt - upmarket supermarket with a focus on fresh food, styled as a farm market
- blt Express - smaller blt stores
- Ole' - upmarket supermarket with a focus on imported food
- 乐购express - former Tesco Express stores
- Voi_la! - wine cellar
External links
Notes and References
- Web site: 傳和黃洽售百佳 最高作價155.2億 - 香港文匯報. paper.wenweipo.com. 2016-06-12.
- Web site: 信報即時新聞 -- 【品牌洞察】華潤與樂購合併也吃不了中國的菜. 信報即時新聞. 2016-06-12. https://web.archive.org/web/20150624030724/http://www2.hkej.com/instantnews/market/article/1065959. 2015-06-24. dead.
- http://www.crc.com.hk/scripts/eng/profit_center/vanguard.asp China Resources Vanguard Co., Ltd.
- http://www.cre.com.hk/press/R20020603-e.pdf China Resources Enterprise, Limited Plans To Acquire A 65% Stake In Vanguard
- Web site: 华润万家推出新品牌"V+城市精品超市" 旗下品牌达12个_媒体焦点_华润集团欢迎您. winfo.crc.com.cn. 2016-06-12.
- Web site: 华润收购TESCO中国成功获批 乐购将全部更名为华润万家. finance.sina.com.cn. 2016-06-12.
- Web site: 881903.com 商業電台 - 華創已完成出售非零售業務擬改名為「華潤啤酒」. https://web.archive.org/web/20151001125444/http://www.881903.com/Page/ZH-TW/newsdetail.aspx?ItemId=820914&csid=261_368. dead. October 1, 2015. 2016-06-12.
