The retail giant Wal-Mart is looking to build 36 new outlets in Brazil as well as a distribution centre, with an investment of 1.2 billion reais (US$649 million) in the country.
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Speaking a news conference in Brasilia, the CEO of Wal-Mart’s Brazilian unit Vicente Trius, was quoted by Reuters saying: “We are very committed to growth in Brazil. It is a strategic market for Wal-Mart.”
The new stores will include a variety of formats – including hypermarkets, supmarkets and wholesale outlets – in a variety of geographical locations.
The report said that the company would be focusing on on low-income consumers via Wal-Mart chains like Todo Dia and Maxxi.
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By GlobalData
