Home Depot on the way to China

Home Depot is preparing its entry in the Chinese market. Leading the expansion is Bill E Patterson in his newly created position of president of The Home Depot Asia. The company is estimating their market share at around 50 bn US dollars (41 bn euro) and the growth rates at 20 per cent. About 70 per cent of DIY and home improvement spending in China is used for interior refurbishment, says Patterson.    
Home Depot’s  new Asia head served as president of the Central Division since 2002.  His successor at Central Division is Troy Rice, the current senior vice president of operations. Carl Liebert, who joined Home Depot last year, has been promoted and is replacing Rice.