China seafood importer goes for downstream business
The developer of a giant seafood logistics hub in central China has opened its first store as it seeks to take a bigger share of the margins from sales of imported product.
The Nian Nian You Yu Group opened a 1,400 square-meter, multi-level store in the prosperous east coast city of Hangzhou. The company – which plans to open 39 stores in provincial capitals as well as a further 60 in second tier cities – is a subsidiary of the deep pocketed Dalian Cai Hua Group, which has interests in real estate and commerce.
Nian Nian You Yu (the name is a play on a traditional Chinese association of fish with prosperity) uses the Fish First brand name to market seafood from Europe, Russia, and both Latin and North America. Guests at an opening party for the new “flagship” store in Hangzhou heard the firm charters jets to fly in lobster from Canada into Zhengzhou in China’s most populous province, Henan. But the company also flies seafood into other populous regions in central China, including Changsha, with much fanfare and media promotion of the flights.
Work started last year on a 13,000 square-meter Nian Nian You Yu cold chain warehouse and logistics center near Changsha airport in populous central China. The warehouse is located in the Changsha Airport Economic Demonstration Zone, opened in 2017.
Nian Nian You Yu operates several air freight routes into the facility, with one flight between Changsha and Vancouver and another servicing Vietnam. The firm increased the volume of seafood imported into Changsha in 2018 – overall, nearly 10,000 tons was flown in to the city in 2018 – by six times the figure recorded in 2017, company boss Yu Zhengdong told a Changsha daily newspaper.
Image courtesy of icswb.com via the official website of Changsha, China