First Best Mart 360 Macau store opens
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Best Mart 360, the Hong Kong-listed ‘leisure-food retailer’ opened its first store in Macau yesterday.
The company – which has suffered vandalism to some 75 of its Hong Kong stores during recent protest activity – believes there is potential for as many as 15 stores in Macau.
In an interview with the South China Morning Post, chairman and co-founder Lin Tsz-fung said the expansion into the new territory was planned many years ago.
“We hope to diversify our markets to Macau and Mainland China. We think Macau has a lot of tourists,” he said.
A significant expansion in Best Mart 360’s store network helped boost sales in the first half of this year, despite the company being heavily impacted by protests since June.
As at the end of September, Best Mart 360 operated 98 stores, a net 21 more than the same time a year earlier. Most of the new outlets are on the mainland.
Questions & Answers
Q.What is the primary reason Best Mart 360 decided to expand into Macau?
What is the primary reason Best Mart 360 decided to expand into Macau?
The company chairman stated the expansion was planned years ago to diversify markets beyond Hong Kong. They also believe Macau has a significant number of tourists, which likely makes it an attractive market.
Q.How has Best Mart 360's recent store network expansion impacted its sales performance?
How has Best Mart 360's recent store network expansion impacted its sales performance?
A significant expansion in Best Mart 360's store network helped boost sales in the first half of this year. This occurred despite the company being heavily impacted by protest activity since June.
Q.How many stores did Best Mart 360 operate by the end of September?
How many stores did Best Mart 360 operate by the end of September?
By the end of September, Best Mart 360 operated 98 stores. This represents a net increase of 21 stores compared to the same period a year earlier, with most new outlets located on the mainland.
Q.What is Best Mart 360's long-term store potential in the Macau market?
What is Best Mart 360's long-term store potential in the Macau market?
Best Mart 360 believes there is potential for as many as 15 stores in Macau. This indicates a significant planned presence for the 'leisure-food retailer' in the new territory.
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