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Walmart Global eCommerce announces increased investment in Yihaodian
Wal-Mart announced today 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.
Launched in July 2008, Yihaodian offers more than 180,000 Stock Keeping Units 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.
Neil Ashe, President and CEO of Walmart Global eCommerce, said, "This investment further enables Walmart to deliver a superb customer experience to Chinese consumers that are already connected to the world through smart phones and social media. We are on track to create the next generation of eCommerce, offering the latest in online innovations to give our customers a unique shopping experience."
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