Walmart announced it will speed up development of its China business by opening 110 stores over the next three years. The expansion strategy comes in the face of strong competition from local retailers, the company said, noting that China represents a strategic market. CEO Mike Duke and Walmart China CEO Greg Foran told reporters in Beijing that the company is committed to continued growth in large and small cities across China, and “doing it in the right way”. The company will open stores in so-called tier-two, tier-three and tier-four cities, creating nearly 19,000 new retail jobs. Walmart will focus on building Supercenters and Sam's Clubs, remodeling existing stores, and further investment in its logistics network.
"Walmart to Accelerate Development in China, Creating 19,000 Jobs", News release, Walmart, October 24, 2013
China’s cosmetics market is fast catching up with the United States, which currently leads the world market with its $55 billion in annual sales. Annual sales growth in China is averaging 15 percent, much higher than the single-digit global growth rate, and is forecast to reach $38 billion in 2013. In China, skincare accounts for 40 percent of the cosmetics and personal care market, compared with 30 percent for the rest of the world. Foreign-owned cosmetics brands account for 90 percent of sales in China, with Procter & Gamble leading the market with 15 percent share, followed by L’Oréal with 10 percent. Shanghai Jahwa is the leading local cosmetics company, powered by its good brand diversification and multichannel distribution.
"China's beauty industry looking good", The Business Times Singapore, October 10, 2013
Mondelez International hopes that redesigning its supply chain will drive a 60- to 90-basis-point yearly improvement in its operating profit. The company is accelerating investments in emerging markets to boost growth, and it hopes the supply chain redesign will expand margins in established markets “to levels at or above the average of peer companies”. The redesign will mean $3 billion in gross productivity savings, $1.5 billion in net productivity savings and $1 billion in incremental cash over the next three years in North America and Europe.
"Mondelez Redesigns Supply Chain", Consumer Goods Technology, September 03, 2013
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China Retail News, October 29, 2013
The Coca-Cola Company , October 24, 2013
Bloomberg, October 18, 2013
ACS News Service Weekly PressPac, September 04, 2013
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