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Does China Own Costco In 2022? (Ownership + Products)
Costco sells a wide range of goods including tires, groceries, furniture and electronics. Costco operates stores in many countries, including the United States, Australia, Europe and the United Kingdom.
China’s Costco to Be a Reality in 2022
China does not currently own Costco and has never had ownership in the past as of 2022. Costco is also American-owned, and the company’s first warehouse opened in Seattle in the 1980s. However, Costco does manufacture some products in China. Kirkland Signature is one of its private labels.
Costco in Which Country?
Costco has always been owned by Americans. This was how James Sinegal & Jeffrey H. Brotman established the first Costco Warehouse in Seattle, Washington on September 15th 1983.
A second store was then opened in Portland in Oct 1983 and one in Spokane by December 1983.
Currently, 558 of Costco’s 804 stores are located in the United States, and the company is firmly planted in the US.
Costco, however, is a global company and has additional locations in these countries.
China Produces Products for Costco
Costco has a variety of brands that it sells in its stores. Some of them are manufactured in China.
Apple products such as iPads (and iPhones), and various clothing brands are just a few examples.
In addition, some brands that Costco has chosen to label Kirkland Signature are likely made in China.
In many cases, it does seem that Costco does try to manufacturer their private label products in the USA, but items such as clothing and electronics are likely to be made in China.
China makes up 28.7% global manufacturing output. There is therefore a chance that many brands are producing in China.
Can Costco Stores be found in China
Yes, there is currently one Costco store open in China, and the store opened in August 2019 in Shanghai.
The first Costco China was a great success. In October 2019, the company had over 200,000 members. This exceeded the 68,000 mark.
Costco was also in the news when it closed its Chinese warehouse for 4 hours due to crowding.
At the moment, meat, seafood, lobster and handbags are China’s most-sold items at Costco.
In China, another Costco will soon open.
Does China Own Costco In 2022? (Ownership + Products)