View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
  2. Networks
February 20, 2012

Wal-Mart ups stake in Chinese Yihaodian

Increases US retailer’s total ownership stake to about 51%

By CBR Staff Writer

Wal-Mart Stores has revealed that it is increasing its investment in the holding company of Yihaodian, a growing eCommerce website in China.

The deal will take Wal-Mart’s total ownership stake in Yihaodian to about 51%, as Wal-Mart seeks new sources of revenue to take on rising competition in the world’s fastest-growing major economy, according to Reuters.

Wal-Mart Global eCommerce president and CEO Neil Ashe said their further investment in Yihaodian demonstrates that Wal-Mart is committed to investing in China in a key growth industry and developing all that goes with it: logistics, infrastructure, innovative talent and new technologies.

Yihaodian, launched in July 2008, offers more than 180,000 products and has achieved a significant standing in online grocery sales and in categories such as baby/mom, consumer electronics and apparel, the company said.

With 5,400 employees and its logistics centres in Shanghai, Beijing, Guangzhou, Wuhan, and Chengdu, along with delivery stations in 34 cities across China, Yihaodian is said to be serving a growing customer base with same-day and next-day delivery of essential daily items at competitive prices.

Wal-Mart has not disclosed any financial details of the deal and its existing stake in the Chinese firm.

Content from our partners
Rethinking cloud: challenging assumptions, learning lessons
DTX Manchester welcomes leading tech talent from across the region and beyond
The hidden complexities of deploying AI in your business

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU