US-headquartered retailer Walmart has increased its stake in Chinese e-tailer JD.com.
Walmart has upped its shareholding from 10.8 per cent to 12.1 per cent, just three months after almost doubling its stake in China’s second largest e-commerce player.
The retailer secured its initial share of 5.9 per cent in June 2016 after selling its e-commerce business Yihaodian to JD.com in exchange for the shareholding as part of a strategic alliance between the two businesses.
While Walmart operates bricks-and-mortar stores in China, investing in JD.com has given the retailer access to its logistics and warehousing across the country.
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