August 16, 2005

Seiyu to Open WM Branded Stores in Japan

Count me as skeptical of the effectiveness of the new stores:

TOKYO (AFX) - Seiyu Ltd will start opening stores in 2006 developed with Wal-Mart Stores Inc, its top shareholder, and carrying the US retail group's brand, The Nihon Keizai Shimbun reported without citing sources.

By introducing the store development methods of Wal-Mart, its 42.4 pct shareholder, Seiyu aims to turn around its business, the business daily said.

Wal-Mart plans to turn the struggling Japanese retailer into a subsidiary as early as this year.

Posted by Kevin on August, 16 2005 at 09:43 PM