Wahaha, a Chinese retailer, is looking for Spanish companies to supply its chain of stores, says the Spanish Ministry of Agriculture. Wahaha is market leader of beverages, with a 10 billion Euro turnover in 2011. The retailer has more than 160 branches and can boast a network of 8,000 distributors and over 20,000 stores.
Now that the Chinese giant is ready for expansion, it wants Spanish companies to supply produce to future outlets. The intended strategy is to open up hypermarkets, following Western design, to be ahead of foreign competition looking to take root in the Chinese market.
Secretary-General of Agriculture and Food Supply, Isabel García Tejerina, met with Chinese officials, amongst whom entrepreneur Zong Qinghou, present owner of Wahaha. Over 30 Spanish companies of diverse commercial interests are set to present themselves during a meeting with the Chinese retailer, organised by the Ministry. By doing this, the Department hopes to kick-start profitable venues on Asian markets.
Source: Lasprovincias