China Resources Vanguard

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China Resources Vanguard Company, Limited
华润万家超级市场有限公司
State-owned enterprise
Industry Supermarket
Founded 14 February 1984
Headquarters Hong Kong
Shenzhen, Guangdong, China
Area served
China
Hong Kong
Key people

Chairman Chen Lang CEO Hong Jie Chief Operating Officer, Chen Shuo Vice President Qin Dongsheng, Wang Weiyong, Lan Yi and Tang Hongtao

Chief Financial Officer, Min
Products Food, beverages, and daily necessities
Number of employees
14500 (Hong Kong accounts for 1000)
Parent China Resources Enterprise
Website Vanguard (China)
Vanguard in Wan Chai, Hong Kong
Vanguard in North Point, Hong Kong
VanGO convenience store in Shau Kei Wan, Hong Kong

China Resources Vanguard, doing business as China Resources Vanguard Shop or Vanguard, operates the supermarket chains of China Resources. It is the third-largest supermarket chain in Hong Kong. As of 31 December 2014, there are 4866 shops operating in Hong Kong and the Chinese provinces / municipalities of Guangdong, Zhejiang, Jiangsu, Shanghai, Tianjin and Beijing.

According to market research firm EuroMonitor estimates in 2012, China Resources Vanguard supermarket market share in Hong Kong is about 7.8%. Wellcome Hong Kong's market share is about 39.8% and PARKnSHOP Hong Kong's market share is about 33.1%.[1]

On 18 August 2013, China Resources Enterprise's supermarket chain Vanguard and British supermarket Tesco signed a "memorandum of understanding", intending to set up a joint venture interest group in mainland China, Hong Kong and Macau, operating hypermarkets, supermarkets, convenience stores, liquor stores and cash and carry businesses. China Resources Enterprise took an 80% share and Tesco took a 20% share.[2]

History[edit]

  • 1984: China Resources Supermarket (CR Supermarket), former name of China Resources Vanguard, was founded.
  • 1991: CR Supermarket opened its first store in Mainland China.
  • 2001: China Resources acquired a 72% stake in Shenzhen Vanguard Super Department Store. China Resources Supermarket merged with Shenzhen Vanguard Super Department Store.
  • 2002: China Resources fully acquired Shenzhen Vanguard Super Department Store and renamed it as China Resources Vanguard Shop.[3][4]
  • 2005: Introduction of new sunflower logo.
  • 2007: China Resources Holdings acquired Tianjin company China Resources Supermarket Chain.
  • 2010: The first blt boutique supermarket in opened.
  • 2012: Vanguard launched new brand "V+ urban boutique supermarkets".[5]
  • 2013: Set up joint venture with Tesco.[6]
  • 2015: Sale of supermarket business to improve the performance of China Resources Enterprise.[7] Open first U Select by Tesco store in Hong Kong.

Brands[edit]

Hong Kong[edit]

  • Vanguard - standard supermarkets
  • VanGO - convienence stores
  • U Select - stores with at least one third Tesco products
  • Voi_la! - wine cellar

China[edit]

  • Vanguard - standard supermarkets, upgraded and former Tesco stores use a red logo
  • VanGO - convienence stores
  • V+ - upmarket urban boutique supermarket aimed at China's growing middle class
  • blt - upmarket supermarket with a focus on fresh food, styled as a farm market
  • Ole' - upmarket supermarket with a focus on imported food
  • 乐购express - former Tesco Express stores
  • Voi_la! - wine cellar

References[edit]

External links[edit]