Magazines Archives - 2007 January

US Home Depot acquires Home Way
Story 12

HOME DEPOT of the US has con-firmed a definitive agreement to acquire China’s first home-improvement re-tailer, Home Way, with the intention to rename the latter’s 12 stores.

Both companies did not reveal the terms of transaction, except to say that Home Depot’s ownership of China’s fourth-largest home-improvement retailer will be 100%.

The the big-format US retailer will study how the customer wants to be served before making more changes to its acquired stores, said Annette Verschuren, president of Home Depot Asia/Canada, in local news.

Projects in China are generally more extensive than in the
US as the Chinese consumer often buys an empty home and then arranges for electrical wiring, plumbing and other works to be done, Verschuren said. In light of this, Home Depot will incorporate installation and other services as a key component of its business in China, she said.

The average Home Way store mea-suring 90sqf is slightly smaller than its Home Depot counterpart in the US, Canada and Mexico.


2007 January Stories:

Retail Outlook 2007- Opportunities and challenges ahead
Indonesian retailers enjoyed buoyant 2006

JT Network brings DC superheroes to Singapore

SM Investment acquires supermarket, hypermarket

Capitol Optical sets up first lifestyle concept store for eye care in the region
Lippo poised to open high-end stores in China

Jaeger looking East for the long haul  

Wal-Mart beats Tesco to retail tie-up in India 

Siri Mahamart uncovers Rs1 billion retail plan

Robinson wins rights to open River Island stores in Singapore and Malaysia

Harvey Norman goes to Penang

Shanghai Tang steps up presence in fashion cities

US Home Depot acquires Home Way

Best Denki in first major Viet franchise

China retail sales projected to grow by 13%

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