Wal-Mart Targets Emerging Markets

28 June 2005

The world's biggest retailer, Wal-Mart Stores, has put European expansion on its shopping list.

In an interview with the Financial Times newspaper, the retail titan's ceo, Lee Scott, says Poland, Hungary and Russia are all targets.

He adds: "We have a portfolio we are working on. It doesn't matter to us which of these will be first, we want all of them at some point." He believes acquisition is the way forward in central and Eastern Europe.

The US-headquartered company is also looking closely at India and Scott says: "It has specific rules on foreign direct investment, but at some point [we would like to enter] India. It is such an exciting country with a growing middle class."

Scott wants Wal-Mart to continue to achieve 30% of its sales growth outside the US. International sales last year accounted for 21% of Wal-Mart's $285 billion (€235.77bn; £156.41bn) in sales, and for 31% of its annual sales growth of $28bn.

Data sourced from Financial Times online; additional content by WARC staff