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Walmart commits to add 115 new stores in China

Walmart commits to build 115 new stores in China by 2017, upgrade 50 stores this year and continue to focus on e-commerce.

May 5, 2015

Walmart's global president and CEO, Doug McMillon, speaking live at an event in Beijing, reiterated Walmart's pledge to growing its business in China. McMillon committed that from 2015 to 2017 Walmart will open 115 new stores in China, including supercenter and Sam's Club formats, creating more than 30,000 jobs in Shanghai, Shenzhen, Changsha, Wuhan and other Tier 1 & 2 cities.

"China is a key strategic market for Walmart. Over the next three years we will increase investment across our diverse business operations in China," McMillon said in a statement. "We'll build new stores and invest in our existing estate, bolster our capacity for e-commerce, invest in food safety and fresh to ensure the highest quality products and continue to build on strong partnerships with our Chinese suppliers.

"Our aim is to become an integral part of China's economic development, serving customers the highest quality products, creating jobs and economic stimulus and working hard to build on our position as a trusted corporate citizen in China."

The new stores in China will provide better services to local customers in new areas and strengthen Walmart's penetration in mature markets, according to a company release. Walmart will further increase its investment in emerging cities, looking to serve the groups of consumers emerging in the urbanization process of China.

"It's an honor to lead such a dynamic, growing business in one of the most vibrant retail environments in the world," Sean Clarke, president and CEO of Walmart China, said in a statement. "Our focus on providing fresh, high quality products, with the aim of becoming China's most trusted retailer, remains unchanged. But as we look forward, we'll utilize our e-commerce experience to bring our customers more convenient ways to shop. We have enjoyed close to 20 years serving the Chinese consumer, and our intention is to do so for many years to come."