Walmart Partners With China e-commerce Company
by June 21, 2016 11:11 am 163 views
Wal-Mart Stores Inc. and China’s largest e-commerce company by revenue have joined forces to serve consumers in China through a combination of e-commerce and retail.
The agreement between Walmart and JD.com includes a wide range of business initiatives, covering both online and offline retail. For Walmart, the deal expands its opportunity in China e-commerce and provides its stores and Sam’s Clubs with potential traffic from JD.com’s base of online customers and same-day delivery network. JD.com will leverage Yihaodian’s brand and business in eastern and southern China and in product categories such as grocery and household goods. Also, JD.com’s customers can buy new and imported items from Walmart and Sam’s Club.
“We’re excited about teaming up with such a strong leader in JD.com, and the potential that this new relationship creates for customers in China, as well as for our businesses,” said Doug McMillon, president and CEO of Walmart. “JD.com shares similar values in making the lives of customers better.”
As part of the agreement, Walmart will receive 144.95 million new shares of JD.com, representing about 5 percent of its total shares.
“We are very happy to announce this landmark agreement between two leading retailers, which we are confident will help bring e-commerce in China to the next level and benefit millions of consumers,” said Richard Liu, CEO of JD.com. “Walmart is synonymous with trusted-quality efficient retailing, and we believe that this tie up will increase both product selection and overall user experience.
“JD.com’s reputation for authentic products and superior customer experience make it an outstanding home for these iconic businesses to reach hundreds of millions more customers in China.”