Business Intelligence on Retailing, Franchising, and Consumerism in China

CNY80 Million Investment Aids Wal-Mart's Fuzhou Upgrades

Wal-Mart China announced that the company has invested nearly CNY80 million in upgrading existing stores in Fuzhou, Fujian province.

Wal-Mart entered the Fuzhou market in 2000 and the retailer currently has 12 shopping plazas in this city. Except for one newly opened outlet, Wal-Mart completed the upgrade of the remaining 11 stores by mid-August, 2015. With the full upgrade and renovation, those stores are improved in shopping environment, energy saving, product portfolio, and customer service.

Sean Clarke, Wal-Mart China president and CEO, said that Wal-Mart is confident in the Chinese market and has a long-term investment plan in the country. Over the next three years, the company will not only open new stores and develop e-commerce, but also will make store upgrade an important part of its Chinese investment plan.

So far, Wal-Mart has invested CNY600 million in upgrading over 90 stores. In 2015, the company is expected to invest over 370 million to upgrade more than 50 additional stores across China.

Image Credit: Zhao jian kang

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