Wumart

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A Wumart location in Shunyi District, Beijing

Wumart Stores, Inc. (simplified Chinese: 北京物美商业集团股份有限公司; traditional Chinese: 北京物美商業集團股份有限公司; pinyin: Běijīng Wù Měi Shāngyè Jítuán Gǔfènyǒuxiàngōngsī),[1] doing business as Wumart, (Chinese: 物美; pinyin: Wùměi; Chinese for "good product"; SEHK: 1025) is a Chinese retail company with its headquarters in Haidian District, Beijing.

Wumart was founded in 1994. The company has about 430 stores, 330 of which are convenience stores and 100 of which are hypermarkets. The stores are located primarily in the Chinese cities of Beijing, Tianjin and the cities of Hebei province. The company's stores sell products that range from food to general merchandise from Chinese and Western brands such as Procter & Gamble, Unilever, and Colgate. Wumart also owns a 25% stake in Chao Shifa, a Chinese supermarket company.[2] Wumart is often compared to the American company Walmart due to their similarities in business models.[3]

In 2006, the company's founders were investigated by the People's Republic of China, which briefly froze all trades of the company's shares.[4]

In December 2013, shares of Wumart dropped sharply when their proposed acquisition of Thai-based company CP Lotus fell through. [5]

Corporate affairs

The company has its headquarters in the Wumart Commercial Building (S: 物美商业大厦, T: 物美商業大廈, P: Wù Měi Shāngyè Dàshà) in Haidian District, Beijing and its registered office in the Badachu HighTech Park District in Shijingshan District, Beijing.[6][7] Previously its headquarters were on the 10th floor of the Yuquan Building (S:玉泉大厦, T:玉泉大廈, P: Yùquán Dàshà) in Shijingshan District, Beijing.[8][9]

References

  1. ↑ "Company Profile." Wumart. Retrieved on October 12, 2012.
  2. ↑ "Wumart Stores, Inc.". Hoovers. Retrieved 2010-06-16. 
  3. ↑ "Wumart versus Wal-Mart". The Telegraph. 2005-06-26. Retrieved 2010-06-16. 
  4. ↑ "Wumart Abandons Stock Issue". Forbes. 2006-11-15. Retrieved 2010-06-16. 
  5. ↑ Retailers eager for M&A integration China Economic Net, 17 Jan 2014
  6. ↑ "Interim Report 2011." (Archive) "ADDRESS OF HEAD OFFICE Wumart Commercial Building 158-1 West 4th Ring North Road Haidian District Beijing P. R. China" and "LEGAL ADDRESS IN CHINA Room 5610 1 Shixingdong Street Badachu HighTech Park District Shijingshan District Beijing The PRC"
  7. ↑ "联系我们." (Archive) Wumart. Retrieved on October 12, 2012. "地址：北京市海淀区西四环北路 158-1号 物美商业大厦 邮编：100142 " - Map, Archive
  8. ↑ "tel.jpg." Wumart. Retrieved on October 12, 2012. "Add:Yuquan Building Shijingshan Rd. 100049 Beijing, P.R.China"
  9. ↑ Home page. Wumart. February 18, 2008. Retrieved on October 12, 2012. "总部地址:北京市石景山区石景山路3号玉泉大厦10层"

External links

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