It’s reported that Walmart aims to add 30 to 40 new stores in China, including three to five Sam’s Club outlets, in 2017. It will also upgrade current stores and continue to work with JD.com.
Solid performance drives expansion
Walmart has seen healthy growth in China in the latest quarter, with 2.3% like for like increase. This follows its strategic partnership signed with JD.com to expand its presence across the country.
Walmart China will invest more than RMB300m (US$44 million) to upgrade and remodel around 50 current stores. “We will move faster to improve the overall customer experience and continue our strategic alliance with JD.com,” Dirk Van Den Berghe, president and CEO of Walmart Asia and China, said in a statement.
In 2016, Walmart opened 24 new stores, including 21 hypermarkets and three Sam’s Club outlets.
Find out the latest news on Asia retailing
Please follow us on twitter @IGDAsia