China market: Clevo opens 24th Buynow store

China market: Clevo opens 24th Buynow store

Aaron Lee, Hubei; Adam Hwang, DIGITIMES[Monday 20 October 2014]

Notebook ODM Clevo has opened its 24th Buynow electronics retail store in China, in Wuhan, according to the company.

Of the retail space at the new store in Wuhan, central China, 25% and 20% is for selling IT and communication devices respectively and 55% for eateries, Clevo noted.

Clevo said it will open its 25th Buynow store in Suzhou, eastern China, on October 25 and eight others are under construction.

Clevo said of its net profit of NT$714 million (US$23.8 million) for second-quarter 2014, Buynow operations contributed over 60%.

Clevo said it also has a 30% strake in a department store chain, Chicony Square, in China. The first Chicony Square store in Wuhan opened in September 2003 and the second in Chengdu, western China, in October 2010, Clevo said, adding the third in Xi'an, northwestern China, is scheduled for opening in second-half 2015.

Chicony Square accounted for 9.38% of Clevo's second-quarter 2014 net profit, it added.

Originally posted here:
China market: Clevo opens 24th Buynow store