Huang's GOME stake sold for $900m
Updated: 2006-03-30 13:39
GOME Chairman Huang
Guangyu gestures during a ceremony of GOME's marching into Nanjing, in the
capital city of East China's Jiangsu Province, in this July 19, 2005
file photo. The retailer opened four new stores in that month in this
eastern city and its first flagship store in Xinjiekou, one of the city's
most prosperous commercial areas, began operating on Saturday, July 23,
GOME's first flagship store in Xinjiekou, one
of the most prosperous commercial areas in Nanjing, began operating on
Saturday, July 23, 2005.
According to Huang Guangyu,
who was ranked as China's richest person by the US magazine Forbes, his company
has three goals to accomplish in the upcoming years.
The first one is for the company to increase the number of its stores in
cities where it already has businesses.
Second, it must develop other markets, especially in cities with a population
of at least 500,000.
The third is with the success of domestic market, GOME must expand
The company has set up development plans for the Southeast Asian markets, for
Established in 1987, GOME had 263 stores in 69 mainland cities
at the end of 2005. It also entered the Hong Kong market in
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