Radiant Systems announced it formed a wholly owned foreign entity (WOFE) China, opening a direct office in Shanghai as part of the company's continued expansion into new markets around the globe. "The Chinese market represents more than 100 million middle class consumers and the number is expected to grow to more than 600 million by 2015," said Mark Schoen, President of the international division for Radiant Systems. "In the hospitality industry, for instance, we believe that China can represent an opportunity for Radiant that is equal to the U.S. market over the long run. There are also opportunities for us in retail and in large sports venues."
Radiant Systems announced it formed a wholly owned foreign entity (WOFE) China, opening a direct office in Shanghai as part of the company's continued expansion into new markets around the globe. "The Chinese market represents more than 100 million middle class consumers and the number is expected to grow to more than 600 million by 2015," said Mark Schoen, President of the international division for Radiant Systems. "In the hospitality industry, for instance, we believe that China can represent an opportunity for Radiant that is equal to the U.S. market over the long run. There are also opportunities for us in retail and in large sports venues."
Radiant has successfully conducted business in China over a number of years, selling systems to local operators and sourcing equipment for its global supply chain from local manufacturers. Radiant and its reseller partners currently have planned deployments for point of sale and back office systems in more than 200 restaurants in China including Paul Bakery and Hop Hing Group which counts Yoshinoya and Dairy Queen among its brands. "Operating and competing in China makes us a stronger company in all of our markets, including the U.S.," Schoen said. "The expectations of the market in terms of price, service and innovation force us to constantly improve our capabilities and challenge our existing ways of doing business."
"Local and foreign restaurant brands operating in China are increasingly looking for sophisticated solutions to manage their consumer transactions at the point of sale and optimize their supply chains from the back office," said Craig Panter, Director of Asia Pacific sales for the international division at Radiant Systems and the executive responsible for the new Shanghai office. "In addition to a growing restaurant industry, the Chinese market today represents 100,000 service stations and more than 15,000 convenience stores, so our view of the market will be across Radiant's industries."
About Radiant Systems
Headquartered in Atlanta, Radiant Systems is a global provider of innovative technology to the hospitality, retail and entertainment industries. For more than two decades, Radiant's point of sale hardware and software solutions have helped to redefine the consumer experience in more than 100,000 restaurants, retail stores, stadiums, parks, arenas, cinemas, convenience stores, fuel centers and other customer-service venues. Radiant has offices in North America, Europe, Asia and Australia. For more information, visit www.radiantsystems.com.