China Resources Vanguard

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), 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.

China Resources Vanguard Company Limited
华润万家超级市场有限公司
TypeState-owned enterprise
IndustrySupermarket
Founded14 February 1984
HeadquartersShenzhen, Guangdong, China
Area served
China
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
ProductsFood, beverages, and daily necessities
Number of employees
14500 (Hong Kong accounts for 1000)
ParentChina Resources Holdings
WebsiteVanguard (China)
Vanguard in Wan Chai, Hong Kong
Vanguard in North Point, Hong Kong
VanGO convenience store in Shau Kei Wan, Hong Kong

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
  • 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 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] 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

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

References
  1. "傳和黃洽售百佳 最高作價155.2億 - 香港文匯報". paper.wenweipo.com. Retrieved 2016-06-12.
  2. "信報即時新聞 -- 【品牌洞察】華潤與樂購合併也吃不了中國的菜". 信報即時新聞. Archived from the original on 2015-06-24. Retrieved 2016-06-12.
  3. China Resources Vanguard Co., Ltd. Archived 2009-01-06 at the Wayback Machine
  4. China Resources Enterprise, Limited Plans To Acquire A 65% Stake In Vanguard Archived 2011-07-21 at the Wayback Machine
  5. "华润万家推出新品牌"V+城市精品超市" 旗下品牌达12个_媒体焦点_华润集团欢迎您". winfo.crc.com.cn. Retrieved 2016-06-12.
  6. "华润收购TESCO中国成功获批 乐购将全部更名为华润万家". finance.sina.com.cn. Retrieved 2016-06-12.
  7. "881903.com 商業電台 - 華創已完成出售非零售業務擬改名為「華潤啤酒」". Retrieved 2016-06-12.
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