Walmart ups stake in JD.com

For fresh fruit and vegetable marketing and distribution in Asia
Gabrielle Easter

BY GABRIELLE EASTER

@gab_produceplus

Walmart ups stake in JD.com

US-headquartered retailer Walmart has almost doubled its share in China’s JD.com

Walmart ups stake in JD.com

Neil Ashe, president and CEO of Walmart Global eCommerce, and Haoyu Shen, CEO of JD Mall

Related Articles

Leading retailer Walmart has increased its share in China’s e-commerce site JD.com from 5.9 per cent to 10.8 per cent.

The US-headquartered retailer acquired the shares on 5 October 2016 though Walmart does not hold extra voting power.

“The stepped-up investment in JD has been part of our plan, as we continue to be a passive investor. We believe this strategic alliance will help us grow e-commerce even faster in China,” a Walmart spokeswoman told WSJ.

Walmart China sold its e-commerce business Yihaodian to JD.com for 5.9 per cent of the company in June as part of a strategic agreement to service Chinese consumers both online and offline.

An interview with JD.com’s sourcing head for fresh produce, Clark Meng, was published in the July/August 2016 edition of Asiafruit.

 

 

comments powered by Disqus

Keep informed...