Home Depot, the largest US home improvement retailer by sales, has closed its last store in Beijing, highlighting the difficulties that some western companies face when trying to transplant foreign business models into China.
Home Depot, which has closed five stores on the mainland in the past two years, is struggling to find the right business format for one of the world’s most difficult home improvement markets, local analysts said.
“Nobody wants DIY [in China],” said Matthew Crabbe of Access Asia, a Shanghai-based retail consultancy.
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