Tang Guojiang, CEO of Pacific Coffee under China Resources Group, told reporters at the opening ceremony of Taikoo Hui Store a few days ago that the opening speed of mainland stores has been accelerated. Although it has entered the mainland for less than a year, Pacific Coffee aims to expand the number of direct-sale stores in the mainland to 50 by the end of the year.
Last year, China Resources Enterprise Group acquired 80% equity interest in Pacific Coffee from its Pan-Asia in a cash transaction of HK $327 million. After the acquisition, it was fully handed over to its wholly-owned subsidiary CR Vanguard.
(Editor: Leo)
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