Mr. Wang Lei,
the CEO of BBX China, an international franchise of ASX-listed BBX
Holdings, recently visited Sydney with senior managers of his team
for training and mapping out their future strategy of continued
expansion.
BBX China was
formed in September 2006, when the China Federation of Logistics and
Purchasing Barter Trade Committee entered into a master franchise
agreement with BBX International—a wholly owned subsidiary of BBX
Holdings Ltd., which will have 20% equity in BBX China.
Lei said that
the visit to Australia has been a vital step in BBX China’s ongoing
development. “Our visit to Sydney has helped us to better understand
the BBX operating system and commercial model, which we are now
focusing on modifying and developing according to Chinese conditions
and the requirements of our markets,” he explained.
“We’re in the
process of organising a training program, to help businesses in
China better understand (our) commercial model and learn about the
benefits of transferring to BBX,” Wang said.
China is BBX
Holdings’ third international operation. Franchises are already
established in New Zealand and India, while others are currently
being negotiated with some in the advanced stages, affirmed BBX
Managing Director Michael Touma.
BBX has offices
and/or franchises situated throughout Australia, and operates in
both islands of New Zealand. Member businesses in these two
countries traded in excess of $146 million in the financial year
ending June 30, 2006, averaging over $33,000 per active member
business.
For more
information on BBX see
www.ebbx.com.
