Resource Vanguard to expand high-end supermarkets

China Resource Vanguard Co Ltd said on Monday on its website that it will further expand its high-end supermarkets.

"By the end of 2016, China Resource Vanguard will open 50 Ole stores, and 30 BLT shops," said the retail giant.

The company currently has 20 Ole shops and 10 BLT stores in the country. It opened its first Ole store in China in 2010.

"The market for high-end retail is mature in the country. Ole shops usually start to make a profit after one year and a half," said Dai Hong, general manager of Ole's business.

"In the future, we will add more imported food, fresh food and own-label products," Dai said.

In addition to Ole and BLT, the company's portfolio includes supermarket brands Vanguard, SuGuo, shopping mall brand Fun2 and Leonardo Di Gasun.