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Dec. 9 (Reuters) - A clutch of companies has recently announced plans for a sales drive in smaller Chinese towns and cities where they see potential for strong revenue growth.
Here are some of those expanding into the less prosperous
interior.
-- German sports goods company Adidas AG
-- Electronics giant Foxconn is planning a major push for its retail business in China, drawing on former employees to set up thousands of stores in smaller third- and fourth-tier cities. The parent company of Hon Hai and Foxconn International will encourage long-time employees who want to return to their hometowns to open up shops selling electronics by investing over 300,000 yuan ($45,000) in each store. [ID:nTOE6B506N]
-- General Motors , the biggest overseas automaker in China, is rolling out affordable models aimed at Tier-3 and Tier-4 cities, which it says could account for 60 percent of its business within five years. [ID:nTOE6AL02W] -- Britain's Tesco , the world's No.3 retailer, plans to quadruple revenue in China over the next five years by more than doubling its number of hypermarkets to more than 200, including a push into second- and third-tier cities. [ID:nLDE6AL00E] In addition, other foreign companies continue to move into the Chinese market.
-- American retailer Gap Inc and U.S. steakhouse Morton's Restaurant Group Inc opened their first outlets in China in November. -- French department store operator Galeries Lafayette will open its first store in Beijing in 2013 and is planning a total of 10-15, including in second- and third-tier cities, in the next five years [ID:nTOE6AO058]
(Reporting by Alan Wheatley; editing by Bill Tarrant) (Created by William Tarrant)