Golden Dragon Enters Into Supply Agreement With Vanguard Group
Published:01-February-2010
By Staff Reporter
Golden Dragon Holdings has signed its first of several agreements with China Resources Enterprise, aka/ Vanguard Group that operates around 2,600 supermarkets, hyper markets and specialty stores throughout China and Hong Kong. This initial agreement allows the company to sell and service all 7 V'Ole Gourmet Supermarkets in Beijing.
Frank Yglesias, CEO of Golden Dragon, said: "This is just the tip of the iceberg and the potential of this relationship at this moment is too great to fully quantify. We will be able to sell our entire array of products through this agreement. Our focus will be to efficiently and accurately deliver products to their 7 Beijing V'Ole Supermarkets; which will allow us to prove ourselves as a reliable supplier.
“Once we have successfully proven ourselves in Beijing, we will develop a roadmap for all their Chains in China and Hong Kong. We are currently engaged in discussions with Vanguard to potentially supply their Supermarkets, VnGO convenience store and their Hypermarkets, which is China's version of a Big Box Store."
China Resources Enterprise focuses on the consumer businesses in both the Chinese Mainland and Hong Kong, with core activities being retail, beverage, food processing and distribution, textile and investment property. With around 2,600 chain stores located in Hong Kong, Shenzhen, Guangzhou, Zhong Shan, Zhu Hai, Su Zhou, Nan Jing, Beijing, Tianjin, Xian, Zheng Zhou and other major cities in PRC.
China Resource Vanguard (CRV) has more than 100,000 employees. With the diversified business, CRV currently operates 184 Vanguard Hypermarkets, 15 V'Ole Supermarkets, and 2,572 Vanguard Supermarkets and VnGO 24hrs convenience stores.
