Wal-Mart China is opening 60 new stores in the country by 2017 as part of its efforts to integrate its hypermarkets, membership stores and online platform to offer customers more convenience and quality products in a highly-competitive retail market, the company’s top executive said. Greg Penner, chairman of the Wal-Mart board of directors, said in an exclusive interview with China Daily in Shanghai on Wednesday [6 April 2016] that the company has already opened more than 50 new stores since a plan to add 115 stores in three years was announced in 2015…ECNS.cn Apr 2016
- As of early 2016, Walmart has developed three brands in China including its hypermarket series (420 stores), Sam’s Club stores (12), and the e-commerce site Yihaodian (~130 million registered users).
- In 2015, Walmart had 433 stores located in 169 cities across mainland China.
- In November 2015, Walmart China announced plans to open new stores in Inner Mongolia, Yunnan, Shandong, Fujian, Hubei and Guangdong.
- In October 2015, China Resources SZITIC, a subsidiary of China Resources Corp, announced it will its 35% stake in 21 Wal-Mart Stores in China for approximately CNY 3.35 billion (US$523.4 million). China Resources SZITIC is a subsidiary of China Resources Corp.
- In July 2015, Wal-Mart China bought out the remaining 49% of Yihaodian, taking full control (100%) of the e-commerce retail company.
- As of 2014, Wal-Mart has more than 400 retail units operating in China.
- In October 2012, Wal-Mart increased its stake in Yihaodian to more than 51%.
- In May 2011, Wal-Mart acquired a minority stake in Yihaodian.
- Founded in 2008 and headquartered in Shanghai, Yihaodian is an e-commerce grocery website that has expanded to include household appliance and clothing. In 2011 and 2012, Wal-Mart bought increasing stakes in the company. As of 2014, the company served more than 100 Chinese cities (1-2 day delivery service). In July 2015, the company was bought out by Wal-Mart.
- In 1996, Walmart opened its first store in Shenzhen, southern China.