Sometimes when you take a business abroad, it just doesn’t match up with local culture.
That’s exactly what happened to Home Depot in China.
The home improvement retailer has announced that it’s closing its last seven big box stores in China — the only ones the Home Depot had outside of North America.
“The market trend says this is more of a do-it-for-me culture rather than the American do-it-yourself culture,” a Home Depot spokeswoman tells the Wall Street Journal.
It’s the end of a six-year struggle to try to get the big box stores to work in China. The retailer does want to maintain a presence there, though.
Now, Home Depot will focus on specialty stores and online operations. It will also keep a research and development team in China.
Around 850 associates will be affected by the closings and they will receive severance packages and job placement assistance.
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