BUYNOW Electronic will debut its online store services and operate 25 stores nationwide by 2009 as it competes with rivals like Best Buy and Gome, the Taiwan-based firm said yesterday.
In Shanghai, Buynow has invested "several hundred million yuan" to open an additional store in Xujiahui by the end of this year. It also plans to set up another store in Wujiaochang in the city's northeast Yangpu District, said the electronics retailer.
Each of the stores (in Shanghai) will occupy 20,000 square meters, said Chen Jianchen, operations planning director of Buynow.
The retailer, which has two stores in Shanghai, will run 15 stores nationwide by the end of this year, including the new ones in Shanghai, and 10 more in 2009, Chen said.
Buynow is also considering opening an online store to fight against competition from giants like Lenovo Group Ltd and Dell Inc which have teamed up with home appliance retailers to sell computers and other electronic gadgets in stores.
Buynow is expected to launch its online services in the middle of next year and will offer logistics and after-sales services.
Best Buy, the biggest electronics retailer in the United States, also aims to speed up its expansion in Shanghai where it has chosen sites for two or three new stores after opening its second outlet near Zhongshan Park recently. But it doesn't have plans to expand to other Chinese cities.