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Walmart firms up plans to expand retail network in China

RBR Staff Writer Published 02 April 2013

Retail major Walmart Stores plans to open 30 new stores in China in a move to strengthen its brand presence across the country.

Walmart expansion in China

Walmart has also firmed up its plans to invest around CNY500m ($80.1m) to remodel around 50 outlets in the country.

The proposed new outlets will be set up in cities such as Xinyu in eastern Jiangxi province and Shantou, in southern Guangdong province, in the next six months.

A new distribution center in Wuhan, Hubei province and chilled warehouses in Shenzhen and Guangzhou are also planned to enhance foodsafety and reduce costs.

The move comes in the wake of reports that said the chain's recent store closures decelerated growth in one of the retailer's important markets.

The reports also stated that the Walmart is closing Chinese stores, as it struggles with rising rent and labor costs.

Walmart's China division president and chief executive Greg Foran said China always stood as one of the key markets.

"Our aim is to strengthen our business foundation to enable our long-term development in China," Foran added.

Walmart, which currently has 380-plus stores in China, has chalked out plans to open two new Sam's Club outlets in near future.

The retailer operates 10,700 stores under 69 banners in 27 countries and e-Commerce websites in 10 countries.

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Photo: Walmart plans to expand in Chineese market. Image courtesy of Walmart.