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Buynow To Spend CNY6 Billion Over Five Years
May 14, 2006 |
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Buynow, one of the first IT product retailers in China, will invest over CNY6 billion in the coming five years to lay out its business in mainland China.
Cai Mingxian, CEO of Buynow, says that in the next five years the company will march into western China and expand to both the south and north at the same time.
At present, apart from the projects in the downtown area of Beijing, Qingdao, Changchun and Xiamen that are under construction, Buynow's stores in Xi'an, Wuhan and Harbin are also expected to open soon.
According to Cai, in the coming five years, Buynow will set up flagship stores in 35 major Chinese cities.
Since 1998 when it introduced one-stop shopping into China, Buynow has developed a total shopping business area of more than 200,000 square meters. It has become one of the most important channels for China's IT markets with an annual sales income of over CNY20 billion.
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