Area served ChinaHong Kong Founded 14 February 1984 | Industry Supermarket Number of employees 14,500 | |
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Key people Chairman Chen Lang CEO Hong Jie Chief Operating Officer, Chen Shuo Vice President Qin Dongsheng, Wang Weiyong, Lan Yi and Tang HongtaoChief Financial Officer, Min Products Food, beverages, and daily necessities | ||
China Resources Vanguard, doing business as China Resources Vanguard Shop or Vanguard, operates the supermarket chains of China Resources. It is the third-largest supermarket chain in Hong Kong. As of 31 December 2014, there are 4866 shops operating in Hong Kong and the Chinese provinces / municipalities of Guangdong, Zhejiang, Jiangsu, Shanghai, Tianjin and Beijing.
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According to market research firm EuroMonitor estimates in 2012, China Resources Vanguard supermarket market share in Hong Kong is about 7.8%. Wellcome Hong Kong's market share is about 39.8% and PARKnSHOP Hong Kong's market share is about 33.1%.
On 18 August 2013, China Resources Enterprise's supermarket chain Vanguard and British supermarket Tesco signed a "memorandum of understanding", intending to set up a joint venture interest group in mainland China, Hong Kong and Macau, operating hypermarkets, supermarkets, convenience stores, liquor stores and cash and carry businesses. China Resources Enterprise took an 80% share and Tesco took a 20% share.