June 14, 2005
Far Eastern Geant's new president Pascal Billaud says that he plans to open one new hypermart each year while he is president. The wholesale retailer will be opening a new hypermart in the Tachi area of Taipei before the end of the year and has finalized plans to open another store in 2006.
In office three months, Billaud notes that, in addition to establishing new stores, Far Eastern Geant is also continuously remodeling and reorganizing its existing outlets in order to keep on top of the market.
Far Eastern Geant, with thirteen stores, is Taiwan's third largest wholesale retailer behind the French-run Carrefour and Taiwan's own RT-Mart. These three leaders together control nearly 70% of the market, and it looks unlikely other competitors will shake their hold.
Jointly owned by Casino Groupe of France and Taiwan's Far Eastern Group, the hypermart achieved annual revenues of
NTD 14.8 billion in 2004.
(United Daily News)
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