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Metro To Join Ranks of Global Retailers in China

May 21, 2010: 03:25 AM EST

German retailer Metro is joining the ranks of global retailers in China as it announced the opening this year of the first Media Markt consumer electronics store in Shanghai and the expansion of the Cash & Carry chain. Eckhard Cordes, Metro chief executive, said Metro would be increasing its presence in China this year after lying low on its investments last year. Frans Muller, head of Metro Cash & Carry for Asia and new markets, said Media Markt would open its flagship store on Huai Hai road this year. There are plans to open 10 stores in Shanghai by 2010 and at least 100 more if everything goes well. Cash & Carry, on the other hand, hopes to increase its stores from 44 to 50 by the end of the year and then build smaller stores in central Shanghai.

Patti Waldmeir, "Metro set to accelerate investment in China", Financial Times , May 21, 2010, © The Financial Times Limited
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