Walmart is reportedly opening 500 stores in China, doubling its store count
- Walmart reportedly has plans to open 500 new stores in China in the next five to seven years.
- The news was first reported by Chinese newspaper, China Daily, and later followed up by CNN to include additional details.
- According to China Daily, the new locations will include a mix of smaller stores and supercenters as well as warehouses to fulfill online orders.
- Walmart first opened its doors in China in 1996 and has since grown to have 433 stores there.
- Sign up for Business Insider's retail newsletter, The Drive-Thru, to get more stories like this in your inbox.
- Visit Business Insider's homepage for more stories.
Walmart reportedly has plans to double its store count in China, opening 500 new stores in the next five to seven years.The news was first reported by Chinese newspaper, China Daily, followed up with additional details by CNN. A spokesperson for Walmart was not immediately available to comment when contacted by Business Insider.
The idea is to combine "multi-format strategies to bring customers freshness, value and convenience," James Ku, a senior vice president at Walmart China, said in a statement sent to CNN on Thursday.Walmart first opened its doors in China in 1996 and has since grown to have 433 stores there. These largely belong to its namesake chain but there are more than two dozen Sam's Club locations as well. It was one of the first international brands to open in China.
- Airtel's India business is back in the black after a very long time
- Sequoia and PayPal-backed Pine Labs completes a first close of $285 million funding round from new investors
- BJP spent significantly less on advertising during Kerala elections this year, its ad insertions on TV, Radio and Print decreased from 21% in 2016 to 1% in 2021
- Google I/O 2021: Here's what to expect from Google's biggest annual conference
- ISRO announces its decision to share technology to make portable medical oxygen concentrators developed by VSSC