Traditional Chinese 北京物美商業集團股份有限公司 Headquarters China Parent organization Wumei Holdings, Inc. | Simplified Chinese 北京物美商业集团股份有限公司 Founded 1994 | |
 | ||
Hanyu Pinyin Subsidiaries Wumart Jialian (hangzhou) Commerce Company Limited | ||
Wumart stores inc company profile jsbmarketresearch
Wumart Stores, Inc. 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.
Contents
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. Wumart is often compared to the American company Walmart due to their similarities in business models.
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.
In December 2013, shares of Wumart dropped sharply when their proposed acquisition of Thai-based company CP Lotus fell through.
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. 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.