date:May 19, 2014
US retail giant Costco opened its first store in Spain yesterday, as the company looks to capitalise on the Iberian country's weak economy.
Costco, one of the world's leaders in the warehouse-club section, yesterday opened its brand new 145,000-square-foot warehouse in Spain's fourth largest city, Seville.
Along with the new competition, Costco also represents a business model that is new to Spain: the warehouse club, which requires customers to pay an annual fee, in exchange for the promise