The Home Depot headed to China

ATLANTA — Home Depot plans to expand into China and named Bill Patterson to the newly created position of president, The Home Depot Asia.

Patterson will report directly to Bob Nardelli, chairman, president and CEO.

Patterson, who has served as president, Central Division, since 2002, joined The Home Depot in 1999. Prior to The Home Depot, Patterson's experience spanned more than 30 years in retail in the United States, Asia, Mexico and Europe. Patterson held positions as chairman, president and CEO of Sears Roebuck of Mexico, and president and CEO of HomeBase, then the sixth largest home improvement retailer in the United States.

It is estimated that the Chinese home improvement market today is at nearly $50 billion and growing at a compounded rate of 20 percent, according to the retailer.

"About 70 percent of home improvement spending in China is for completion of interior space in new homes. We see that as a solid growth opportunity given The Home Depot's strength in merchandise and services geared to finishing out a home," said Patterson.

The company also announced that Troy Rice, senior vice president of operations since 2002, will replace Patterson as president, Central Division, at its Chicago office. The company also promoted Carl Liebert to senior vice president of operations, replacing Rice.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

Featured Video

  • Live From New York: Fashion Comes Across the Pond

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.

CURRENT ISSUE

HTT Current issue for September 2017

See the September 2017 issue of Home & Textiles Today. In this issue, we look at the Attack of the Killer Third Tier: Monster off-pricers are climbing to the top of the food chain, plus New Products: 40 pages of new products debuting at the New York Home Fashions Market; Home Stores: TJX unveils first U.S. HomeSense store; Clicks to Bricks: Boll & Branch moves from digital to physical retailing; and much more... See details!