German retail giant Metro has set up its non-European sourcing headquarters in Hong Kong, according to Invest Hong Kong, a government department whose aim is to attract investment into the city.
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Metro’s Hong Kong operations, Gemex Trading, is to be integrated into Metro and will operate under the name of MGB Metro Group Buying Hong Kong, from 1 November, reported Dow Jones International News.
“Hong Kong is where the centre of competence for the imports of the Metro sales divisions from Asia and non-EU countries will in future be domiciled with over 400 employees,” Stefan Feuerstein, a member of Metro’s management board, was quoted by Dow Jones as saying.
