The world’s largest hardware store rejoices under the name of Ace. Its slogan for years was The helpful hardware place but this has now been replaced by The helpful place. Giving it its full title, Ace Hardware Corp has opened its first global distribution warehouse in China in a Shanghai industrial park. The warehouse, at the Waigaoqiao Bonded Logistics Park in Pudong, is also Ace’s first such facility outside its home market.

America’s 25th-biggest retailer said the Chinese market will become its biggest sourcing location within several years. Ace bought more than US$300 million worth of products in China last year, an increase of around 20 percent from a year earlier. It also aims to introduce more US-made hardware to the China market, preparing for its first outlet on the mainland when conditions are ripe.

The warehouse, operating under a partnership with Kerry Logistics, has signed contracts with more than 50 vendors for over 1,000 products.

Earlier this year, Ace transferred its purchasing office from Hong Kong to Shanghai, a move that will help the company expand its product sourcing and oversee warehouse operations.

Around the world Ace has 4,600 hardware, home center and building materials units in 70 different countries. It generated US$13 billion in total sales last year.

The Ace company was formed in 1924 by Richard Hesse, E. Gunnard Lindquist, Frank Burke and Oscar Fisher in Chicago, Illinois. The company became a cooperative in 1973.

By 1976 Ace became a retailers’ cooperative. Independent owners became dealer-owners and shareholders in the company. Because it is a co-op and not a franchise, each Ace store looks different.

The name is said to come from the Ace fighter pilots of World War I, who were able to overcome all odds.