FamilyMart has announced plans to open at least 200 new stores within China.
The company said that it will enter Beijing, Wuxi and Dongguan to tap into growing demand. Wei Yinheng, Chairman of franchisee Ting Hsin International Group, said that it plans to enter one or two new cities each year over the next few years.
Speaking at a media briefing in Shanghai, Yinheng said that same-store sales have recorded 12% growth. FamilyMart currently has a network of 1,100 stores across China, including 800 in Shanghai.
The company entered the Chinese market with its first Shanghai store in 2004, and broke even in 2013. Yinheng predicted that the retailer would record a profit in the current year.