Home Depot Buys Home Way of China

Home Depot Inc. is playing catch up to IKEA, Britain's B&Q and Chinese retailers.

However, it has jumped into the makert by scarfing up 12 home improvement stores modeled after itself.

The Home Way is home based in Tianjin.

China's home improvement market ranges from $15 billion – $50 billion in value.

When Chinese buy a 'home' or an apartment (condo style in a high rise) they buy a shell. There is nothing but concrete walls. No outlets, nothing.

The home improvement market, the home decorating market, the get-my-home-in-basic-living-condition market is indeed huge.

Can Home Depot catch up?

What do you think?