Cathy Mo

B&Q, the world’s third-largest retailer of home improvement materials, opened Saturday its sixth Shenzhen store in Shenzhen Europe City on Shahe Road East, Nanshan District.

On the same day, the British company also moved its South China headquarters to the new venue.

B&Q entered the Shenzhen market in 2002 when it opened its flagship store in Luohu District. According to president of B&Q China Mariusz Gliwinski, Shenzhen is B&Q’s third-largest market on the mainland after Shanghai and Beijing. “It’s estimated that B&Q takes up 10 percent of Shenzhen’s market share,” said Gliwinski, who added that the company may plan a new outlet in Bao’an District.

B&Q’s U.K-based parent Kingfisher Group is committed to enhancing its presence in China although the real estate sector is undergoing a shake-up due to government curbs, according to Gliwinski. He admitted that it had had some impact on B&Q’s business in China but said that in the long term it would benefit the big players.

Kingfisher Group, a Fortune 500 company, has opened more than 700 B&Q stores in 11 countries and regions. The Shenzhen Europe City store is the 65th store of B&Q China.

Shenzhen Europe City, a new commercial center supported by both Nanshan District and the Shenzhen municipal government, is targeted at retail giants, especially those from Europe.

German supermarket operator Metro group earlier opened an outlet there, while Swedish homeware retailer Ikea’s Europe City store is scheduled to open April 16, followed by French sporting goods retailer Decathlon. Chinese furniture retailer Kinhom and electrical appliance retail chain Sundan will also move their regional headquarters to Europe City.