Sun Art Retail Group Appoints New Chief Executive
Chinese hypermarket operator Sun Art Retail Group has appointed Huang Ming-tuan as its new chief executive, with his appointment set to be confirmed at the group's AGM in May.
Sun Art, which is a joint venture between Auchan and RT-Mart, posted a 2.9% decrease in revenue last year, while gross profit was up 1.6%.
“In front of fierce competition in China’s retail market, Sun Art will continue to deeply develop three key strategies of the Group and focus on integration of two headquarters," Ming-tuan commented.
"Leveraging technology and data-driven, we will make efforts to develop online business and renovate and upgrade the existing stores.”
In December of last year, the business converged the headquarters of its RT-Mart and Auchan operations, to establish a joint operation headquarters to 'enhance the efficiency of the group'.
It opened 24 new hypermarket complexes in 2018, as well as securing 55 sites for future development.
In 2019, the group plans to enhance its hypermarkets to offer more support to the group's online platforms, as e-commerce hubs, as well as roll out the Taoxianda fresh food project.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.