The American retail giant Wal-Mart has signed a cooperation agreement with the commercial real estate firm Shanghai You You Group to open Wal-Mart's first Sam's Club in Shanghai.
Located in You You Trade Center, a project developed by Shanghai You You Group, Wal-Mart's Sam's Club in Shanghai will cover an area of over 60,000 square meters and it is expected to be opened on December 28, 2010. The new store will provide over 9,000 types of product to medium- and high-end consumers in Shanghai.
Unlike general supermarkets in China, Wal-Mart's Sam's Clubs are warehouse membership stores that provide bulk and quality products to its corporate and individual members. The membership fee of Sam's Club in China is reported to be CNY150 per year.
Wal-Mart currently has over 500 Sam's Clubs around the world. The retailer opened its first Sam's Club in China in August 1996 and it currently has just four Sam's Clubs in mainland China: in Guangzhou, Fuzhou, Panyu, and Beijing, respectively.