China Resources Vanguard facts for kids
Logo on refurbished Mainland stores
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Logo on Hong Kong stores. An identical design, with the name in Simplified Chinese, was formerly used on Mainland stores
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| State-owned enterprise | |
| Industry | Supermarket |
| Founded | 14 February 1984 |
| Headquarters | Shenzhen, Guangdong, China |
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Area served
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China |
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Key people
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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 |
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Number of employees
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14500 (Hong Kong accounts for 1000) |
| Parent | China Resources Holdings |
China Resources Vanguard, doing business as China Resources Vanguard Shop or Vanguard (simplified Chinese: 华润万家; traditional Chinese: 華潤萬家; pinyin: huá rùn wàn jiā; Jyutping: waa4 jeon6 maan6 gaa1), 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 mainland 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%.
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.
Contents
History
- 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.
- 2005: Introduction of new sunflower logo.
- 2007: China Resources Holdings acquired Tianjin company China Resources Supermarket Chain.
- 2010: The first blt boutique supermarket opened.
- 2012: Vanguard launched new brand "V+ urban boutique supermarkets".
- 2013: Set up joint venture with Tesco.
- 2015: Sale of supermarket business to improve the performance of China Resources Enterprise. Opened first U Select by Tesco store in Hong Kong.
Brands
Hong Kong
- Vanguard - standard supermarkets
- VanGO - convenience stores
- U Select - stores with at least one third Tesco products
- Voi_la! - wine cellar
Mainland China
- Vanguard - standard supermarkets
- VanGO - convenience 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
- blt Express - smaller blt stores
- Ole' - upmarket supermarket with a focus on imported food
- 乐购express - former Tesco Express stores
- Voi_la! - wine cellar
