Students' Circle K Strategy Wins Citigroup Prize
TEXAS -- A team of students from the University of Texas' McCombs School of Business won first place in the Citigroup International Competition, where students were given 32 hours to establish a business strategy for the expansion of Circle K convenience stores in China.
The UT team beat 16 others from around the world with their case, which involved Circle K's plans to expand in China, now a member of the World Trade Organization. Hong Kong-based companies, such as Convenience Retail Asia, a Circle K affiliate, have a three-year window to expand in China, before foreign investors are allowed to stake their claims, according to a report in the Austin Business Journal.
Houston-based ConocoPhillips agreed to sell its Circle K chain to Alimentation Couche-Tard Inc., based in Laval, Quebec earlier this month.
The UT team beat 16 others from around the world with their case, which involved Circle K's plans to expand in China, now a member of the World Trade Organization. Hong Kong-based companies, such as Convenience Retail Asia, a Circle K affiliate, have a three-year window to expand in China, before foreign investors are allowed to stake their claims, according to a report in the Austin Business Journal.
Houston-based ConocoPhillips agreed to sell its Circle K chain to Alimentation Couche-Tard Inc., based in Laval, Quebec earlier this month.