Home / Knowledge / News / Wal-Mart plans to invest $1bn on store expansion
Wal-Mart plans to invest $1bn on store expansion
21
Aug '08
During a meeting held in Brasilia with president Luiz Inácio Lula da Silva, Wal-Mart Brazil's President and CEO, Héctor Núñez, announced the company's expansion plan for 2009.

The retailer will make its largest investment yet in the country since it started operating in Brazil fourteen years ago. Wal-Mart Brazil plans to invest between R$ 1.6 and R$ 1.8 billion and open around 80 to 90 new stores of all the nine brands and different formats it operates in the country today.

In the company of Wal-Mart's President and CEO for the Americas, Craig Herkert, and the Vice Chairman and International President and CEO, Michael Duke, Núnez announced that the company would create over 9 thousand jobs in 2009 with the opening of the new stores.

Wal-Mart Brazil operates today in the Northeast, Central West, South and Southeast regions of Brazil with nine different brands. They are as follows: hypermarkests BIG, Wal-Mart and Hiper Bompreço, the supermarkets Nacional, Mercadorama, Bompreço and Todo Dia (soft discount) and the wholesalers Maxxi (cash and carry) and Sam's Club.

During the last four years the company invested over R$ 3 billion in Brazil. In 2008 alone, R$ 1.2 billion is being invested to build 36 new stores and generate over 7 thousand new job posts and 27 thousand indirect positions. "Wal-Mart believes in Brazil and is confirming this investing more and more in this country," says Núnez. "We are investing not only in new stores, but also expanding our support to regional suppliers, exporting more Brazilian products, generating more jobs and working with projects to preserve the Environment".

Wal-Mart Brazil is a retail company that started operating in Brazil in 1995. The company has 318 stores and is present in 17 states, plus the Federal District. The company has over 70 thousand employees.

Wal-Mart


Must ReadView All

Textiles | On 21st Aug 2017

GST payment & filing for July extended till Aug 25

The GST Implementation Committee, consisting of state and Central...

Textiles | On 21st Aug 2017

India’s cotton production may grow by 3.76% in 2016-17

India’s cotton production is likely to rise by 3.76 per cent to 345...

Textiles | On 21st Aug 2017

Telangana announces sops for textile, apparel sector

The Telangana government recently announced a string of incentives,...

Interviews View All

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

August 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
67.7%
No
16.1%
Skip
16.1%

Total Votes: 31

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
45.2%
No
35.5%
Skip
19.4%

Total Votes: 31

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.9%
No
6.5%
Skip
9.7%

Total Votes: 31

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
61.3%
No
9.7%
Skip
29.0%

Total Votes: 31


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search