Costco has clearly seen strong results after opening its first store in mainland China last year in Minhang, Shanghai. The currently planned No. 2 through No. 4 stores are as follows (all in the Yangtze River Delta region):
- On February 18, 2020, Costco successfully acquired land for its second store in Kangqiao, Shanghai, at a cost of RMB 898 million.
- On April 9, 2020, Costco acquired another parcel of land in Suzhou for RMB 143 million. The site is located in Hushuguan, Suzhou New District, with a total project investment of RMB 1.266 billion. Because progress is moving quickly, the Suzhou Costco may open before the Shanghai Kangqiao store and become the second Costco location to open in mainland China.
- Tianyancha shows that Costco (Hangzhou) Trading Co., Ltd. was registered on July 29, 2020. Based on the brand’s past investment pattern, this suggests that Costco’s fourth store will be located in Hangzhou.
Costco memberships are globally valid. They cannot be used online across regions, but they do work interchangeably for in-store purchases. In addition, Costco China accepts all Visa credit cards, including US credit cards, and purchases code as Groceries. Hopefully Costco will open more stores in other cities instead of always focusing on the Yangtze River Delta region.
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