ALDI and Costco open stores in China, plans for expansion in more cities
Aug 7, 2019
Aug 07, 2019 (China Knowledge) - Germany-based discount grocery chain ALDI opens its first two locations in China after entered the Chinese market in early 2017 through Alibaba Group Holding's Tmall Global ecommerce platform. Both grocery stores were opened in June at Shanghai.
Meanwhile, U.S.-based Costco Wholesale, the second largest retailer in the world after Walmart, is set to open its first physical store in China at the end of August.
These moves follow some exits of Western companies from China's retail market. German food wholesaler Metro, the fourth-largest retailer in the world, is in the final stages of selling its China stores to local retailer.
In June, another hypermarket chains French-based Carrefour sold 80% of its equity interest in its local unit to Chinese retailer Suning.com for RMB 4.8 bln.
However, these have not deterred the new arrivals...