COFCO announced yesterday that it will open 30 Joy City locations nationwide in the future 5 years.
The coming three years will see Joy City抯 first store in Chengdu, Sichuan Province, Yantai, Shandong Province and Shenzhen, Guangdong Province and expand its presence in Beijing and Tianjin. Senior executives from COFCO said that this will strengthen Joy City抯 base in Tianjin and Beijing and explore opportunities in Yangtze River Delta, Pearl River Delta and Bohai Rim regions.
The state-owned enterprise has confirmed that it will have another store at Andingmen business area in the middle of Beijing in addition to those in Xidan and Chaoyang areas.
Executive deputy general manager Han Shi said he was quite confident about the great business potential in Beijing抯 western and southern areas, where there were hardly any premium shopping centers, and the company was likely to make plans for these areas in the future.