3. China Resources Vanguard
Base: Shenzhen, Guangdong province
Revenue: RMB 87.8 billion (US$13.8 billion)
Number of stores: 3261
China Resources Vanguard, or CR Vanguard, is one of the largest retail chains in China with well-known brands including “CR Vanguard”, “Suguo”, “Ole’”, “express Tesco Express” and more.
Established in 1984, CR Vanguard now has the largest store coverage among the top 10 list with 3261 stores spanning 30 provinces in China. In 2020, CR Vanguard recorded an annual revenue of RMB 87.8 billion (US$13.8 billion).
The main retail format of CR Vanguard is hypermarkets, which usually targets family consumers by offering affordable daily necessities and high-quality fresh produce. It also targets high- to medium-income families through its high-end supermarkets “Vanguard CiTY” and “Ole’”.
In 2016, Sileni Estate, one of New Zealand’s larger producers, announced to partner with CR Vanguard and sell its wines through CR Vanguard’s broad retail chains.
In 2018, CR Vanguard had signed deals with Australian wine giant Treasury Wine Estates, YVON MAU SA from Bordeaux and Chilean brand Vina San Rafael S.A to distribute their wines across more than 300 of its stores.