Best Buy Buys into Chinese Five Star Appliance
Submitted by Bill Belew on Monday, 15 May 2006No Comment
Best Buy is America’s largest consumer electronics retailer. Five Star Appliance is China’s number four appliance and electronics retailer with 136 stores in eight provinces.
Five Star is also $180 million richer and ready to grow. This is the amount Best Buy paid for a majority stake in the company.
Best Buy had planned to open a store in Shanghai, now it will be in a lot more.
Best Buy is big…but I don’t think I have ever bought anything from the company.
I am, however, sure that I have bought something that was ’made in China.
What America company that is NOT in China now, do you think should get on the stick and establish a presence?
Any ideas?
i don’t really think that Best Buy moving to China will make much of a difference. A lot of the leading technology comes from China/Japan anyway. And as for other businesses branching off into China, I believe that it will have little effect. Sure it would be nice to show-off your “American” gadgets or what not to your friends (this is granted that you are living in China and Chinese). But when you look at the bottom of your Best Buy gadget, you realize that it was made in your own country anyway.
Thanks for your comments, Chris.
My wife and I had to go to a farmer’s market in south San Jose before we could finally find something NOT made in China…it was a small money pouch..made in Mexico!
Not much is made in the US anymore, eh?
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