Costco set to open in China
Costco Wholesale Club is about to make its brick-and-mortar debut in China.
The warehouse club retailer is opening a store on August 27 in Shanghai’s Minhang neighborhood district.
Costco enters the market at a challenging time, with Beijing and Washington engaged in an escalating trade war. At the same time, some other retailers, including German wholesaler Metro and French hypermarket retailer Carrefour, are exiting their Chinese operations, reported the South China Morning Post. (U.S.-based fast-fashion chain Forever 21 exited the country in the spring.)
Still very active in China is Walmart’s Sam’s Club, which has been in China for more than 20 years, with plans to reach 40 stores by the end of next year, the report said.