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Wal-Mart is Preparing to Take Over the Asian Market

One of the most famous businesses in America is continuing to expand. Wal-Mart Store Inc. has set it sights on the Asian market and expects to conquer it very soon. Wal-Mart has expressed its wish to purchase a Chinese retail chain for approximately $1 billion. This is an extremely smart step to make. By purchasing a major food and department store network in China, Wal-Mart is obviously planning to increase its revenue and at the same time to obtain a source that knows all the ins and outs of the Chinese market.

The chain in question is the Taiwan-based company called Trust-Mart with an approximately 100 stores belonging to it on China. If the deal will fall through then Wal-Mart will receive a valuable asset on the Chinese market. For instance, only in 2005 Trust-Mart announced sales of $1.67 billion, while Wal-Mart`s Chinese based stores made a significantly smaller profit in the same year. Currently Wal-Mart owns solely 60 stores in China, while only in US this number reaches 3,700 stores.

The Trust-Mart network was established in 1997 and offers a wide selection of various products, according to its statements the company`s stores feature more than 20,000 assorted goods. And it looks like the chain doesn`t plan on stopping there. Plans for expansion of the chain were announced in spring, and the store network is preparing to hire over 150,000 new employees over the next five years.