Chinese electronics and home appliances retailer Five Star Appliance announced its new expansion plan in Zhejiang and the company plans to open six to ten new chain stores in the province in 2012.
According to Wang Gang, general manager for the Zhejiang branch of Five Star Appliance, the company is expected to have over 80 chain stores in Zhejiang by 2015.
The news was revealed at the founding ceremony of Five Star Appliance Zhejiang's Jiahu office in Jiaxing; meanwhile, the company announced the opening of its new flagship store in Jiaxing.
With an investment of over CNY10 million, the new flagship store in Jiaxing adopts the sales model of Five Star Appliance's international experience stores. The store also has special experience zone of Apple products; while special zones and stores-in-store of brands like Sony, Samsung, Robam, and Sakura will be available.
Wang said that in the future, Five Star Appliance will fully explore the Jiaxing and Huzhou markets. The establishment of Jiaxing office and the opening of the new flagship store represent the company's focus on Jiaxing and Huzhou. He also revealed that the company's second store in Jiaxing is expected to be launched in May. In addition, the company plans to develop four stores in Jiaxing and Huzhou during the year 2012; and the number of stores in this region will reach about ten in the future.