Best Buy to further expand in China

Apr. 28, 2009 (China Knowledge) - Best Buy Co Inc, a global consumer electronics retailer, said on Friday that it plans to open a few hundred new outlets in China in the next five to 10 years, with seven to 12 opened in 2009, China Daily reported, citing Bob Willett, CEO of Best Buy International, as saying.

Meanwhile, more outlets under its wholly-owned Jiangsu Five Star Appliance Co are also expected in Best Buy's overall expansion plan in China, said Willet, adding that the company has invested a lot in setting up the IT infrastructure at Five Star.

According to Willet, the Five Star stores will focus on Jiangsu Province in eastern China, while Best Buy will continue to consolidate the brand in Shanghai before expanding into other cities.

The latest opening of Best Buy store will take place next month in Shanghai's Minhang district and it will be the sixth outlet in the city.

The U.S. electronics retailer currently owns five standard and one lifestyle stores in Shanghai, one premium store in Beijing and 170 Five Star outlets across China.