reply Foreign Chain China: Opening New Stores

The Ministry of Commerce's latest data show that from January to April this year, the country set up 16,805 new foreign-invested enterprises, an increase of 19.2%. What is the foreign investment in China? Is the construction of a new supply chain industry chain, continued with the world "chain" connection, but also continue to open new stores, run out more of China's speed. In March of this year, located in Shanghai's net red neighborhood "Jufu long" Supreme China's first store was officially opened, and to this day, it is still necessary to queue up from time to time to limit the flow of entry. Supreme parent company Weifu Group President and CEO Bracken Darrell said Weifu in recent years in the Chinese market performance is outstanding, as of March 30, 2024 2024 fiscal year results report shows that its Greater China business grew 13% year-on-year. "China is our second largest market and our first overseas market outside the U.S. And with China growing faster than any other region, I look forward to China becoming our number one market." "I'm looking forward to the growth of the Chinese economy." Bracken-Darrell said, "China's expected 5% GDP increment is particularly strong compared to other similarly sized markets around the world, and the speed of China's growth is exciting for us as foreign businessmen." Bracken-Darrell introduced, now Weifu Group's North Face, Timberland, Vans and other "brand matrix" has more than 1,500 single-brand stores in China, "we will continue to open more stores in China". Bracken Darrell said he has been doing business with China for nearly 30 years and witnessed the continuous optimization of China's business environment. "I have always thought that China is a very suitable place for business development, the Chinese government has long been constantly adapting to the development of change, China's efficient, rapid and continuous self-innovation makes me marvel." "The digital economy, represented by live streaming, is booming in China, and China's huge technological leap has allowed us to gain 'China experience', and exporting such 'China experience' has had a positive impact." Bracken Darrell said. In May this year, Weifang Group invested RMB 30 million in the automation capability upgrade project of its China operation center to go online. The project adopts advanced digitalization and automation solutions to improve operational efficiency, and it is expected that its cargo storage capacity will be increased by 15% on the original basis, and the maximum delivery capacity in a single day will also be increased by 49%, so as to better meet the "digital-driven" consumption structure of the Chinese market. Continuing to open new stores is the common choice of many leading foreign-funded retailers. May 28, mainland China's first gas station equipped with open market customer member store opened in Nanjing, which is also open market customers in mainland China's seventh open market customer member store, for consumers to bring the United States-style "gas + shopping" mode, after the beginning of this year, the open market customer has just opened the first store in Shenzhen, South China. In the first quarter of this year, Hilton Garden Inn, Hilton Group's premium select-service brand, reached a record high of 30 signings for its business development in China, with the brand moving into 12 new destinations, including Ordos, Taizhou, Zhanjiang, Chengde and other places, to further broaden its layout. At the same time, Hilton Group announced that it has entered into a contract with Shanghai Shendi (Group) Co., Ltd. to bring its flagship brand, Hilton Hotels & Resorts, and lifestyle brand, Hilton Grand Vacations, to the Shanghai International Tourism Resort.