Walmart to Add More Stores and Sam’s Club in the Next Couple of Years
U.S. based multinational retail giant Walmart is planning to increase its number of stores in Shenzhen in the next five years. this announcement came during a meet with city mayor Xu Qin an Walmart’s CEO and President Sean Clarke. Clarke was earlier named the President and CEO of Walmart earlier this year and took the position in June.
Currently Walmart has 24 retail stores and two Sam’s Club in Shenzhen and two new stores are set to open in Henggang and Buji subdistricts in Longgang. Walmart is also eyeing seven additional locations in the city for new outlets and is hoping that they can establish two more Sam’s Club in Longhua New Area and in Qianhai. Then in 2012, Walmart purchased a majority stake in Yihaojian a Chinese online retail store as Walmart is planning to expand their e-business in Shenzhen before the year ends.
Shenzhen mayor Xu also hopes that Walmart will take the lead in ensuring food safety and to provide high quality food to city residents. Clarke assured that Walmart is practicing a strict system of internal inspection when it comes to food quality and has a standard in purchasing mechanism.
In June Walmart announced that it will triple its food safety investment to 300 million yuan, which than pushed the company’s annual sales up by 24 percent and placed Walmart in the top three retailers in China.