The Chinese technology products retailer Buynow has announced the opening of a flagship store at Yuexiu Shopping Square, which is also its first chain store in the Chinese capital, providing consumer electronics to local residents.
The Buynow Beijing flagship store covers four floors with a business area of nearly 22,000 square meters and more than 200 parking spaces. According to Wu Wenquan, general manager of the Buynow Beijing flagship store, there is already a Buynow-branded store in Beijing. However, that Buynow Blue Island store, which was opened by a Buynow partner, does not belong to the company's chain stores.
Wu said that the Buynow brand is exclusively owned by Buynow Electronic Information Company Ltd. Because of the cooperative relationship, the Buynow Blue Island store was specially approved by Buynow Group to be a franchise store of Buynow. Therefore, the new Buynow flagship store is actually the group's first chain store in Beijing.
Founded in 1998 and invested by Clevo, a notebook OEM/ODM manufacturer, Buynow has already become one of the most prominent IT malls in China and competes with rivals Dazhong, Best Buy, Gome, and Suning. With four independent operating centers across the Chinese mainland, Buynow has currently opened IT malls in such cities as Shanghai, Nanjing, Chengdu, Shenyang, Zhengzhou, Tianjin, Hefei, Hangzhou, Guangzhou, Changchun, and Beijing. In the future, the company plans to expand its business to 35 major Chinese cities.