Sam Walton, founder and owner of Walmart, the world’s largest company, was once a minor employee at a superstore.
‘Successful people do not do any new work, they do work in a new way’, this line sounds good. And in real life, the biggest example of this is ‘Walmart’ founder Sam Walton, who changed the way of shopping. Walton, who led the world’s largest retail company ‘Walmart’ to this level, started his career as a sales trainee. Now the value of his company is about 500 billion dollars and it is threatening with 12 thousand retail stores in 28 countries of the world. This company is in the news after buying 77 percent shares of India’s largest e-commerce company Flipkart.
Know Eight special things about Walmart..
1. Walmart is a US company whose revenue is the highest among private companies in the world. Its total revenue is 31.33 lakh crores ($ 482 billion) and daily earnings of 8600 crores.
2. Walmart owner and founder Sam Walton was once an employee of American department store Jessie Penny. Then he quit that job and opened a store of his own. He started this in 1962.
3. Walmart suffered losses in the initial years, because Sam had rented the store and he used to sell goods at very low rates. But later he contacted many companies directly and started taking goods cheaply. Due to this, sales of their goods increased and profits were also made. Even after this, he suffered many setbacks in the beginning year.
4. On seeing this, Walton opened several department stores in the same city. His fund was that buy goods directly from the company and sell it in the market at the lowest price. In 1969, he founded a new company called Walmart. It also included a club chain.
5. Now Walmart has 11,718 stores worldwide as well as its own chain of clubs in 28 countries. It is the only privately held company in the world. It has a total of 2.3 million employees.
6. The company is still owned by the Walton family. He has a 50 percent stake in this company. It is the largest retail company in the world. Also, America’s largest retailer.
7. When Walmart opened its stores outside the US in Britain, South America and China, it was a tremendous success while the company was a failure in South Korea and Germany.
8. Walmart is in India since 2006. In India, he tried to enter the retail market by tying up with Bharti Enterprises but was not allowed to do so. Now he runs stores selling wholesale goods with traders in many cities, even in that he could not get permission to use the name of Walmart.