Convenience Retail Asia Limited

First Circle K Store Opened in Guangzhou

Hong Kong, 2 December 2002 - The first Circle K store in Guangzhou was officially opened on the morning of Friday, 22 November 2002 at 48 Zhong Shan Ba Road, Guangzhou.

An enthusiastic crowd gathered before the store in great anticipation even before the opening to see and experience the new generation of convenience store. The innovative store presentation, hot-served in-store bakery products and freshly ground soya milk generated so much excitement and demand that for a short while the bread products were all sold out.

In the first day of business, the new store recorded a total of about 3,000 transactions. Sales turnover was 30% higher than expectation. The strong customer traffic has been sustained since the opening.

Encouraged by the very positive market reception to this new convenience store model, the Group is rolling out the next lot of new Circle K stores according to schedule, with a target of 30-50 stores by end of 2003.

To officially launch the Circle K chain in Guangzhou, a grand opening event with ribbon-cutting ceremony, media invitation and celebrity appearance has already been planned for the 8th January, 2003.


About CRA

Convenience Retail Asia is engaged in the operation of one of the leading convenience store chains in Hong Kong under the brand name of Circle K. The Circle K store chain comprises 170 company-owned-and-managed stores in Hong Kong as of 30 November 2002. Major initiatives are planned for expansion into the southern part of the Mainland of China.

CRA corporate Web site:

About Li & Fung Retailing

Li & Fung (Retailing) Limited, the holding company of Convenience Retail Asia, was formed in 1985 as a company wholly-owned by Li & Fung (1937) Limited. There are two chains within the retailing group: Circle K and Toys "R" Us. The retailing group's business extends from Hong Kong to Taiwan, Singapore, and Malaysia, with plans for expansion into the Mainland of China and other South East Asian countries.

For media inquiry, please contact:
Convenience Retail Asia Limited Telephone: 2991 6000
Mrs. Louisa Kwan Direct line: 2991 6229