YMatou announces plan of opening 1,000 stores in 3 years

On August 17, CEO of YMatou, Zeng Bibo, announced the plan called “1000 Stores in 100 Cities”, at the 10th anniversary global press conference of the company.

On August 17, CEO of YMatou, Zeng Bibo, announced the plan called “1000 Stores in 100 Cities”, at the 10th anniversary global press conference of the company.

In the plan, through cooperation with various local governments, YMatou.com plans to open 1,000 offline stores in 100 cities within three years.

Among them, the company has self-operated stores in 100 cities. The surrounding cities of these cities are operated in franchising model to cover 200 to 300 million emerging consumers in third-tier cities.

It is reported that YMatou.com’s offline stores will adopt a “self-operated + franchise” operation model, and plans to cover 6 major urban clusters in Beijing-Tianjin-Hebei, Yangtze River Delta, Pearl River Delta, Bohai Bay, Central South Liaoning, and Southwestern China. This mainly serves emerging consumers in third- and fourth-tier cities.

At the same time, YMatou also announced that its new retail southwest headquarters has officially signed a contract with Chongqing Yuzhong District, which will cover Yuchuan, Yunnan, Guishan and other provinces and cities.

YMatou (YMatou.com) CEO Zeng Bibo said that Chongqing has a vast consumer market and natural advantages in logistics. The first offline store of YMatou is located in Chongqing, aiming at the promising southwest market. Offline new retail will also become the second engine to promote the development of YMatou.com, helping it complete closed-loop traffic and scenarios.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/08/18/ymatou-announces-plan-of-opening-1000-stores-in-3-years/.

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