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Tim Hortons China (Tims China) is ready to further expand its presence in the Chinese market by entering a strategic partnership with Metro China, a joint venture of Wumart and Metro. Under the terms of the partnership, Tims China will become the exclusive…
Chinese retail group Wumart has won a lengthy bidding process for the Metro China business. The German grocery and hypermarket retailer commenced a search for a buyer for the business in March, with various sources reporting an asking price of between US$1.5…
China’s supreme court has thrown out the fraud conviction of a retail tycoon in an unusual gesture of official leniency toward entrepreneurs amid a string of high-profile detentions and prosecutions that has rattled the Chinese business world. The Supreme…
This week’s Alibaba-Sun Art deal is a major step in the development of a new retail landscape in China, write Wai-chan Chan and Jacques Penhirin of Oliver Wyman. This is not a “real estate play” with Alibaba buying 446 grocery stores, but shows how serious…
Wumart Stores, the Beijing-based, Hong Kong-listed grocery retailing giant, has today reported an 11.9 per cent increase in sales in the first six months of the year. Total revenue topped RMB11.6796 billion at a time when foreign box box food and hypermarket…