The inaugural venture of the U.S.-based bulk-buy retailer, Costco Wholesale Corp. will be opened in Shenzhen on Jan. 12.
The general manager of Costco Wholesale Corp.'s Chinese mainland division, Zhang Shuyun, said that there are already about 90,000 residents from Shenzhen and Hong Kong have taken the lead in membership.
"Costco is planning to open a store in Guangzhou, which is a key part of our business arrangement in GBA, but there is no plan for HK," according to Zhang, "We are considering HK, but we cannot find an appropriate site at the moment."
The first Sam's Club in China is located in Shenzhen. On the question of whether Costco enters the competitor lists, Zhang said Shenzhen is everyone's Shenzhen, and Shenzhen consumers are international, "The local market is large enough to accommodate several competitors offering different choices to consumers."
Membership for individuals aged 18 and above is available for 299 yuan (US$42.11) per year, inclusive of a complimentary household card. Before the official opening of the Shenzhen warehouse on Jan. 12, a special offer of a 100-yuan discount is available. The membership is valid at any Costco warehouse worldwide.
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