| Walmart Global eCommerce Announces Increased Investment in Yihaodian |
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20/02/2012 03:03 (92 Day 02:57 minutes ago) | |||||
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The FINANCIAL -- Wal-Mart Stores announced that it has reached an agreement to increase its investment in the holding company of Yihaodian, a fast-growing eCommerce website in China, to bring Walmart's total ownership stake to approximately 51 percent. Closing of the transaction is subject to Chinese government regulatory approval.
According to Walmart, launched in July 2008, Yihaodian offers more than 180,000 SKUs and has achieved a significant position in online grocery sales, as well as in categories such as baby/mom, consumer electronics and apparel. With 5,400 employees and an existing logistics network based in Shanghai, Beijing, Guangzhou, Wuhan and Chengdu, Yihaodian is serving a growing customer base with same-day and next-day delivery of essential daily items at competitive prices.
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