Founded in 1962 by Sam Walton in Arkansas, who started it as a small store that now has been expanded with over 11,500 stores and stakes and subsidiaries in several different businesses, from Asda to Flipkart, Walmart became the largest company in the world by revenue and has been the largest since 2001.
History of Walmart
Today, Walmart has become a household name, known for its low prices and wide range of products. But during its early days, it had fierce competition with Sears and Kmart. To grow in this environment, Walmart focused its growth in rural areas, avoiding competition with these companies.
It became a publicly traded company, selling its first stocks at $16.50 per share. In just 8 years Walmart grew with 51 stores, and record sales of $78 million.
By 1980, Walmart reached $1 billion in annual sales with 276 stores and 21,000 employees. By the 1990s it became America’s top retailer and in 1991 opened its first global shop in Mexico.
By 1997, Walmart hit its first $100 billion in sales in one year and had already expanded into Canada. By 2001, Walmart employed over 1.1 million and had 3,989 stores worldwide the following year it entered the Fortune 500. By 2010 Walmart had entered India, South Africa, China, and Japan.
Walmart has been the biggest company in the world since 2013, for a total of 10 years now.
What are Walmart’s other Subsidiaries/Businesses
Throughout its history, Walmart has acquired many companies to diversify its business and to make itself competitive against giants like amazon. It is one of the most acquisitive companies, spending over $21.95 Billion on acquisitions, acquiring over 27 companies and investing in 17.
3 Biggest Companies Walmart Acquired and invested in
Flipkart Internet Pvt.
In 2018, Walmart acquired a 77% stake in Flipkart for $16 billion, which was one of the largest acquisitions in the e-commerce space at the time. The deal gave Walmart a foothold in the growing Indian market and helped Flipkart compete more effectively against Amazon, which also operates in India
Seiyu Group
The company was founded in 1949 and was acquired by Walmart in 2008. Today, Seiyu Group is a subsidiary of Walmart and operates more than 300 stores in Japan.n recent years, Seiyu Group has focused on expanding its online presence to better compete with e-commerce giants like Amazon.
Sam’s Club
The company was founded in 1983 and today, it has more than 600 locations across the country. One of the key advantages of shopping at Sam’s Club is the ability to buy in bulk, which can help customers save money on products they use frequently. Sam’s Club operates on a membership model, which means that customers must pay an annual fee to access the store and take advantage of its discounts and benefits.
ASDA
The company operates more than 600 stores across the United Kingdom and offers a wide range of products, including groceries, clothing, electronics, and home goods. In recent years, ASDA has focused on improving its online presence to better compete with e-commerce giants like Amazon.
