Bill Belew has raised 2 bi-cultural kids, now 34 and 30. And he and his wife are now parenting a 3rd, Mia, who is 8.
I think it is interesting that Wal-Mart couldn’t make it in South Korea.
Shinsegae bought Wal-Mart out and changed the name to E-Mart. They decided to save money by only changing half the signs on the outside of the store and in their advertisements.
Wal-Mart lost a little more than $200 million last year. That’s a good reason to get out of the neighborhood, no?
South Korea is NOT the only place in Asia where Wal-Mart is struggling. Japan is known for its finicky consumers and they have not bought into the cheap is a good mentality that Wal-Mart preaches.
Japan wants quality even they have to pay for it…though that seemed to be changing during the extended recession. But, now Japan is opening up their pocketbooks and beginning to spend again.
It looks like dark times loom in another Asian country for Wal-Mart.
What do you think?
Oh…the price tag for Wal-Mart’s 16 stores in South Korea in case you were interested – $869 million!