North America's largest home appliance chain retailer Best Buy announced that it will open more stores in China at the rate of about 10% a year.
In the 2007 fiscal year, Best Buy will open 20 to 23 chain stores through its Jiangsu-based Five Star Electronics, which Best Buy acquired last year. Best Buy also plans to open 2 to 3 Best Buy branded stores in China in the next 18 months.
Robert Willett, CEO of Best Buy International, says that the company will learn the consumption habits of Chinese in order to better serve their Chinese customers and they will slowly grow their business based on those moves.
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