2004 China Retail Rich List
Chen Xiao - 2004 China Retail Rich List:No.5
| wealth (US m) | 180 |
| age: | 46 |
| birthplace: | Shanghai |
| company: | Yongle Home Electronics Appliance |
| head office: | Shanghai |
| industry: | Electronics retail |
| personal info: | Currently reported to be in talks with Morgan Stanley to sell it 10% of the business in preparation for an overseas listing, Yongle last year enjoyed strong growth on the back of a deal with China Unicom to sell CDMA mobile phone contracts. With sales last year of US$1.2 billion (2002: US$590 million), Yongle has 5,000 employees. Starting out in 1996 with the purchase of a state-owned Shanghai retail brand, Chen has expanded Yongle to 98 outlets today and has 50% of the Shanghai market. |
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