Walmart China partner sells out

Sacramento, Usa - September 13: Walmart Shopping Cart On September 13, 2013 In Sacramento, Californi

Walmart China’s local business partner wants out of its joint venture.

State-backed China Resources Group has put the minority interests it has in 21 Walmart China stores on the market, seeking US$525 million. Most of the interests equate to about 35 per cent of the respective stores.

China-based spokesman for Wal-Mart David Fu confirmed the sale in an email to Reuters. He said the firm respected the “investment decision” of its partner.

“Wal-Mart believes that the transfer of minority interest will not influence Wal-Mart’s operation and development in China,” he said.

The affected stores are located in various parts of China, including the western Sichuan province and the capital city Beijing.

Souce: insideretail.asia

Related news:

On Pedder’s largest store yet
Asia travel spending trends revealed
Convenience Retail to offload Circle K Guangzhou
Fung Group tests future retail concepts
Xiaomi opens first Beijing store
Hong Kong retail ‘moves to the middle’
Hong Kong retail has lost its edge
Hong Kong retail sales remain stagnant
Coach closes Hong Kong flagship
Smartphone sales soar in SE Asia

Domino’s Pizza China Master Franchisee DPC Dash Passes 1,550 Stores as China Becomes the Brand’s Second-Largest International Market

Domino’s China Becomes the Brand’s Second-Largest International Market as Master Franchisee DPC Dash Adds 235 Stores

Yum China Opens 560 Net New Stores in a Quarter as KFC and Pizza Hut Push Toward 20,000 Restaurants

Yum China Opens 560 Net New Stores in a Quarter as KFC and Pizza Hut Push Toward 20,000 Restaurants

Edprima Wins Early Years Category at the 2026 EdTechX Awards

Edprima Wins Early Years Category at the 2026 EdTechX Awards