Japanese retail and financial services giant Aeon Group has opened the first MaxValu-branded premium food supermarket in Guangzhou, Guangdong province.
The move means that Aeon now has all of its three retail brands — Jusco, MaxValu and Aeon Mall — present in the Chinese market.
The new MaxValu store in Guangzhou has a floor area of 2,500 square meters with more than 15,000 products on display.
The company said the second store will open in Suzhou, Jiangsu province, in late 2013.
The company said it plans to open more than 30 stores annually in China after 2014 and plans to have 100 MaxValu stores around China by 2020.
Aeon teamed up with Japan's food wholesaler Mitsubishi Shokhin to operate the stores. However, the company said most food in the store will be produced locally, with less than 5 percent of products imported from Japan.
Aeon has more than 1,500 Max Valu stores around the world.