MEXICO CITY - From its new food court concept to the acquisition of VIZIO, Walmart has been making large expansion moves in the United States, and the same can be said for its Mexican division Walmex. This year, the retailer is set to invest about 34.5 billion pesos ($2.05 billion) for growth measures.
This investment is a 19 percent increase from the year prior, according to reporting from Reuters. Nearly 45 percent of the money will be used for remodeling and maintenance work on existing stores, while another 29 percent will be allocated for new openings and expansions.
15 percent of the investment will benefit the company's supply chain, while the remaining 11 percent will be used to boost e-commerce and the implementation of new technologies.
Guilherme Loureiro, the Mexican retailer's CEO, said last month that the company was in a position to continue growing its footprint in Latin America's No. 2 economy after 2023 marked its fastest year for adding new stores in a decade.
Will this international growth affect Walmart’s expansion in the U.S.? Stay tuned to ANUK for updates.
