Walmart (NYSE:WMT) announced that it is planning on opening seven Sam's Clubs in China over the next three years.
The membership-based store will aim to attract high-income families that travel, many of whom have experience shopping overseas, reported China Daily.
The warehouse already has more than 1.3 million Chinese members, both individual and business shoppers, and 11 stores. In comparison, the United States has 637 Sam's Club locations.
"We have been very clear about who are our target members and the direction we want to take," Andrew Miles, senior VP of Walmart China and COO of Sam's Club in China, told China Daily.
The ratio of self-owned brands offered in-store is expected to rise 20 percent over the next three years from 6 percent. The goal is to offer customers not only the cheapest price but unique products.
Walmart recently announced it was dismissing 30 executives from its China division in order to streamline the business. The move comes amid a management shakeup in the United States, where Walmart announced the exit of its U.S. merchandising chief, Duncan Mac Naughton.
China is a big growth market for the big-box retailer. Walmart announced last year that it plans to add as many as 110 stores over three years in the country, while shutting down some outlets and remodeling dozens of other stores.
-See this China Daily article
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