CP Lotus to open more stores in Beijing in 2013

Hong Kong-listed chain store operator CP Lotus Corp opened a new store in Beijing's Wangjing area on March 31 and said it will open more stores in the capital in 2013.

This is the first time that the company presents its business model, which combines retail and one-stop daily services, to customers in Beijing.

Customers will not only find a Lotus-branded store covering 36,000 square meters but also can enjoy one-stop services such as catering services in the shopping mall.

The company said the new model will allow CP Lotus to differentiate its services from competitors.

A new shopping mall covering 140,000 sq m in Beijing's Daxing area is also being planned.

CP Lotus closed its Caoqiao store in Beijing in January due to increasing rents and losses, according to the Beijing Business Today.

CP Lotus reported a net loss of 391 million yuan in 2012, down from a 23 million yuan net profit in 2011, as a result of negative same-store sales growth, a drop in margins and increasing expenses.

tangzhihao@chinadaily.com.cn