Target in Hong Kong?

Anyone have any idea why there is no Target or Walmart etc here in Hong Kong?


Cheers

Here's your answer about why there's no Walmart in HK...


http://business.in.com/article/magazine-extra/walmarts-strategy-through-the-world/6042/1


"Hong Kong: Hong Kong was their first foray into Asia. It was a brief disaster. Walmart knew nothing about Asia. They entered Hong Kong through a joint venture with a Thai conglomerate. This was unwise because instead of picking a Taiwanese or Hong Kong company as a local partner, they picked a Thai partner. They opened three stores and shut them down very quickly. Hong Kong is a very compact place and they didn’t factor in how customers would get to the stores. There was nothing wrong with the product mix.


They did not factor in the broader ecosystem – how customers will come and go. They chose a very inconvenient location for customers. In 1995, they had 2,900 stores worldwide and if three bombed, it didn’t matter so much. It shows that Walmart from time to time, hasn’t been the smartest company in terms of joint venture partners."