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Argos to Enter China Market

BritCham / CBBC
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Argos has announced it is setting up a £45 million joint venture with Chinese Manufacturing giant Haier.

Argos is entering the China market in order to tap into the world’s second largest economy. It will open a trial store and internet delivery service in Shanghai, and hopes to expand throughout the country.

Sales in the UK have dropped because customers are feeling the squeeze in living standards and tend to have lower disposible income. In China, Argos hopes the thriving middle class and their increasing spending power will make the venture a success.
The new partnership will draw on Argos’ online retailing expertise and Haier’s disitribution network across the country. Haier will own 51% of the joint venture.

Source: Telegraph

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