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China Jo-Jo Drugstores, Inc. (CJJD) Opens Four New Zhejiang Locations, Plans More

Jo-Jo Drugstores, – widely known throughout the Zhejiang Province for its drug stores that offer low-cost/high-quality prescriptions/OTC drugs, traditional Chinese medicinal products and personal care, as well as access to licensed physicians, announced new store openings today in Hangzhou, bringing the total number of stores to 45.

Chairman and CEO of CJJD, Dr. Lei Liu, characterized the four new openings as both consistent with the Company’s plan to have 60 locations open by March 2011 in Zhejiang, and as a shrewd move which strengthens CJJD’s overall market position considerably.

Organic growth has steadily seen CJJD grow to become a recognized leader in the sector, having started out with just one location in 2003.

The recent openings bring the total number of new stores in Zhejiang since March this year to 20, including 3 existing drugstores acquired and 17 opened by CJJD. The majority of these (17 to be exact) are located in Hangzhou and the immediate area, while the remaining three are down in southwestern Zhejiang, in Quzhou (roughly 2.4M people).

With four more locations slated for Hangzhou this Sept. to Oct., which would bring the total to 49 locations, CJJD is aggressively gobbling up the terrain with its superior drugstore model.

With some 550k members enrolled in the Company’s loyalty program, and averaging 10k customers per day across its network of locations – each approximately 255 sq meters or 2,745 sq ft – CJID’s focus on Zhejiang is really paying off for Company shareholders with its established and profitable infrastructure.

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