What is Walmart? Walmart Review

Business Operations

Walmart's business is divided into four divisions: Walmart U.S., Walmart International, Sam's Club and Global E-Commerce. Walmart has two main formats in China: Walmart Supercenter and Sam's Club. The company offers a variety of retail formats in all these divisions, including large shopping malls, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, home improvement, specialty electronics, restaurants, clothing stores, drug stores, convenience stores, as well as digital retail.

Development History

Sam Walton founded the company in 1962 and opened the first Walmart store in Rogers, Arkansas. Walmart Inc. was established on October 31, 1969.

In 1972, Wal-Mart's stock was approved for listing on the New York Stock Exchange.

On March 1, 1988, the first Walmart shopping mall opened in Washington, Missouri, USA.

In 1990, Wal-Mart became the largest retailer in the United States.

In 2000, it was ranked 5th among Fortune magazine's "World's Most Admired Companies."

In 2002 and 2003, it ranked first in the Fortune 500 list and ranked first in Fortune magazine's "America's Most Admired Companies"

In March 2006, it acquired a controlling stake in Central America Retail Holdings, the largest retailer in Central America, and renamed the company "Wal-Mart Central America Corporation."

On April 15, 2010, Fortune magazine released a new list of the top 500 American companies. Walmart, the world's largest retailer, replaced oil giant ExxonMobil to top the list.

In September 2016, Walmart completed a $3.3 billion acquisition of online retailer Jet.com to strengthen its e-commerce business and help it better compete with other online retailers such as Amazon.

China

Walmart entered China in 1996 by establishing a joint venture, and the first Walmart shopping mall opened in Luohu District, Shenzhen in 1996.

On December 22, 2005, Sam's Club Shenzhen moved to its new address.

On August 28, 2006, the Shenzhen Distribution Center moved from Shekou to Pingshan Town, Longgang District.

On October 26, 2012, Walmart announced that it had completed its increased investment in Yihaodian Holdings, a fast-growing Chinese e-commerce website, with Walmart's stake increasing to nearly 51%.

In July 2015, Walmart announced that it had acquired the remaining shares of Yihaodian and became the sole shareholder of Yihaodian.

In March 2016, Walmart announced the launch of a nationwide cross-border e-commerce service called “Global e-Shopping” on its APP.

As of December 31, 2016, Walmart had opened 439 stores, 8 dry warehouse distribution centers and 11 fresh food distribution centers in 189 cities across the country.

In June 2017, Walmart sold No.1 Store to JD in exchange for a 5% stake in JD.com.

Chinese sellers entering Walmart.com

Walmart.com was founded in January 2000 as a subsidiary of Walmart.

In March 2017, Shenzhen held its first Wal-Mart investment promotion conference.

Soon after, Walmart adjusted its policy and allowed Chinese companies to apply (including companies from Taiwan and Hong Kong), and their sales only had to reach US$300,000.

Entry conditions

1. The documents required to apply for Walmart through a Chinese company are as follows:

1. Scanned copy of business license

2. Passport of the legal person and shareholders

3. Annual turnover of other platforms (not less than 300,000 US dollars)

4. Have a self-built warehouse in the United States or a third-party warehouse in the United States (if it is a third-party warehouse, a lease contract or bill is required)

2. The documents required to apply for Walmart through a US company are as follows:

1. U.S. Company Certificate

2. U.S. corporate tax number EIN

3. Have a self-built warehouse in the United States or a third-party warehouse in the United States

4. Must have a US business address

5. Annual turnover of not less than 300,000 US dollars

References

• 1. Walmart’s development history: Walmart China official website [reference date 2018-03-18T16:00:00.000Z]