The city of Guangzhou in China抯 southern Guangdong Province came under the limelight again due to its great consumer potential and strong growth drivers in its retail market, which impelled foreign retail brands to change their strategies and seek better development in the region.
Maxvalu, a high-end supermarket brand under Aeon, would open its first store by the year end. Galeries Lafayette, which attempted to have its presence in Beijing 15 years ago but failed, planned to come to the city for its second location in China.
Industry analysts believed that time was mature for foreign brands to enter Guangzhou after two years since it hosted the 16th Asian Games. Meanwhile, local stores have begun to adapt themselves into the new business environment by starting to open low-end store formats and offer traditional clothing products.