Home Depot(R) Opens New Sourcing Offices in China
ATLANTA, Oct. 10 /PRNewswire-FirstCall/ -- The Home Depot (NYSE: HD), the world's largest home improvement retailer, will be opening two sourcing offices in Shanghai and Shenzhen. The announcement was made by Duane Goodwin, vice president, Global Sourcing, The Home Depot, while speaking to attendees at the China International Hardware Show 2002. "With offices in Shanghai and Shenzhen, we will greatly enhance our opportunities to purchase more goods directly from manufacturers," said Goodwin. "With more than 1,450 stores in the rapidly growing Home Depot system, we need access to innovative products with the outstanding quality and affordable prices that our customers have come to demand and expect from us," said Goodwin. "The offices in China will allow us to rapidly expand our purchasing throughout China and Asia." The company has hired Chinese associates with experience in product development, quality assurance, manufacturing assessment and knowledge of manufacturers to assist with the effort. By adding sourcing offices, the company is closer to its vendors strengthening the partnership and accelerating the benefits of a direct relationship. "It's a win-win situation," said Goodwin. "We increase our quality suppliers and they grow their business by meeting our product and quality control requirements. Even more exciting is our customers are winners because they can be assured of getting more high quality products at even more affordable prices." Home Depot imports products from around the world. However, today, China is the largest source of these imported products which include lighting fixtures, fans, flooring, bath accessories, faucets, hardware and tools. "We have the advantage of over 10 years of China experience as we open these offices," said Goodwin. "Several of our proprietary brands, such as Ryobi, Hampton Bay, and Glacier Bay are already made in China. The success of these brands has been based on direct factory relationships and partnerships. We will dramatically grow our base of suppliers throughout Asia." The Home Depot currently imports products from some 40 countries. The company has said it intends to grow its imports to some 10% of the sales in its stores. Presently, these products are housed in seven huge import distribution centers (IDC), around the United States ranging between 750,000 square feet to 1.4 million square feet. Plans are already in place to build additional import distribution centers to accommodate the growth of direct imports. Founded in 1978, The Home Depot(R) is the world's largest home improvement specialty retailer and the second largest retailer in the United States, with fiscal 2001 sales of $53.6 billion. The company employs more than 280,000 associates and has 1459 stores in 49 states, Puerto Rico, seven Canadian provinces, and Mexico. The company for the second year in a row was named sixth Most Admired Company in America by Fortune magazine, which has also ranked it as America's Most Admired Specialty Retailer for eight consecutive years. Its stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones Industrial Average and Standard & Poor's 500 Index. Make Your Opinion Count - Click Here http://tbutton.prnewswire.com/prn/11690X43946476RELATED LINKS
SOURCE The Home Depot
More by this Source
The Home Depot nombra a Craig Menear como presidente de operaciones minoristas estadounidenses, y a Mark Holifield como vicepresidente ejecutivo de la cadena de suministro y del desarrollo de productos
Feb 28, 2014, 14:35 ET
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.