Contact:
Mag. My Hue McGowran
Phone: +43-1-81140-308
E-Mail: mcgowran@newsfox.com
| Pressbox | 
|
Shanghai (pte028/15.07.2005/12:39) - The American retail chain Wal-Mart http://www.walmart.com intends to open its first outlet in Shanghai, the city in China with the wealthiest consumers.
Although 47 Wal-mart stores already operate in China, where the company employs 20,000 people, it is not the first such chain to do business in China's biggest city. French competitor Carrefour S.A. already has eight giant stores in the city, and Germany's Metro AG is also well established.
Wal-Mart, whose Chinese headquarters are situated in Shenzhen, China's southern commercial centre, plans to open the 194,000 square foot store in the western district of Pudong. It is one of three Wal-Mart stores planned for the bustling city.
"We aim to ensure the success of our first store in Shanghai and to see the market response," Hu Minghua, a manager with Wal-Mart said.
According to a company spokesman, the opening date is 28th July.
Smaller stores and local retailers have been renovating their shops and rethinking their product lines in preparation for the Wal-Mart's arrival.
(end)
|
|
