Beijing / CN. (prn) Good Life China Corporation (GLCC) has entered into discussions with the Shenzhen Bread Company, which currently operates 60 stores under the retail banner of Miluga, as well as a healthy wholesale to existing groceries and chains. The Baked Goods industry is growing at an impressive pace, as Chinese culture begins to embrace baked goods from the Western world. In particular, Miluga has had tremendous success with its line of Moon Cakes, selling 30 million of them in 2008.
With gross revenues in the ten million Yuan range, and a 20 percent net profit ratio, the Company is in excellent position to continue to grow through cooperation agreements and by expanding its geographic footprint to build regional bakeries servicing a growing franchise chain network around the Pearl River Delta – including the principal cities of Dongguan, Huizhou, Zhuhai, and Guangzhou in Guangdong Province.
Shenzhen Bread CEO Terry Uuan: «We are enthusiastic about moving forward in partnership with Good Life China. Their advanced logistics capabilities and broad retail network can be invaluable in meeting our objectives for geographic growth. We think there is excellent potential to leverage each other´s strengths to achieve our mid to long-term objectives».
Good Life Chairman Dongmei Jia: «This is a natural relationship that can benefit both parties. We hope to make more formal announcements in the near future». The Company will provide further details as they become available.
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