Chinese conglomerate looking for imports for new seafood stores
A leading Chinese retailer is looking for new supply lines for imported seafood to supply a raft of new stores being opened in central China.
Sourcing staff for the Gao Xian Shi Yan Yi chain – which recently opened its fifth outlet in Changsha city – were at the Seafood Expo Asia last week on the lookout for potential new suppliers to help the company meet ambitious expansion plans.
The chain is part of the much larger Bu Bu Gao Group (known as the Better Life Group), which ranks as one of China’s top 500 firms. The firm has subsidiaries focused on retail, including the Hyper Mart supermarket chain and online retailer EMart, as well as real estate, and entertainment.
Headquartered in the city of Xiangtan in Hunan Province – the hometown of Mao Zedong – the firm wants to open 10 more stores this year and aims to have 50 of its seafood outlets operating by the end of 2018.
Boston lobster sells at CNY 99 (USD 15.17, EUR 12.67) each with Mantis shrimp at CNY 29.90 (USD 4.58, EUR 3.83) per 500 grams in a promotion this week at Gao Xian Shi Yan Yi stores in Changsha. The firm wants more crabs and lobsters, said the sourcing agent in Hong Kong.
Company chairman Wang Tian (also known as William Wang) is a flamboyant commercial figure in China, known for his political connections.