Wal-Mart will open a Sam's Club in Panyu, Guangzhou and this will also be the supermarket group's first store in the city.
With an investment of USD30 million, the new store will be located in the 200,000 square meter shopping center owned by Wal-Mart's cooperative partner, Highsun Group.This Sam's Club will cover a store area of over 23,000 square meters and have more than 1,000 parking spaces.
Refering to the opening of Wal-Mart's Sam's Club in Guangzhou, Highsun Group said that apart from the business opportunities in Guangzhou, a cooperative partner with the same operational and management ideas is also a reason that attracts the retail giant.
According to Shao Jianming, president of Highsun Group, Wal-Mart has started investigation and analysis of other areas of Guangzhou and will increase investment in the future. It will open different stores in accordance with the different population distributions, consumption habits and economic capabilities of different areas. For example, in some old districts such as Yuexiu, where the development is restricted by traffic and buildings, community stores will be the main focus of Wal-Mart's expansion, instead of large-scale stores.
Shao expressed his optimism about the entry of Wal-Mart into Guangzhou. He said that as the leader of the retail industry, Wal-Mart's global purchase and chain model will bring more fresh products and benefits to Guangzhou's citizens.