Walmart, a U.S. retailer, announced on Tuesday that it will establish its first branded stores in South Africa this year.
Walmart’s action puts it in direct rivalry with well-known domestic retailers including Shoprite, Woolworths, and Pick n Pay.
Walmart already owns the South African retail company Massmart.
Online, it will compete with market leaders Takealot.com and Amazon.
“This strategic move underscores Walmart’s commitment to making high-quality, affordable merchandise accessible to more customers,” a Walmart statement said, adding that the company has hired suppliers with small and medium-sized operations throughout Africa.
According to President and CEO Kath McLay, Walmart stores in South Africa will sell a variety of goods, including fresh produce, clothing, household necessities, and technology.
“A range of locally sourced products will also be available at Walmart. We want to celebrate South Africa’s unique culture while introducing our hallmark daily low rates and international standards to the market by collaborating with South African suppliers and business owners,” McLay continued.
A number of shop locations are now being developed, according to the company, and formal opening dates should be revealed in October.
In addition to owning the building supplies chain Builders Warehouse, the company’s Massmart brand also owns the retail businesses Makro and Game, which offer goods comparable to those sold by Walmart.
