Walmart on Friday [21 October 2016] announced a $50 million strategic investment in New Dada, China’s largest local on-demand logistics and grocery online-to-offline e-commerce platform. The investment is an extension of Walmart’s broader agreement with JD.com. As part of the cooperation, New Dada offers customers two-hour delivery on groceries ordered from Walmart stores through the JD Daojia Dada application…Full Article: China Daily Oct 2016
- Initially, New Dada’s two-hour delivery service for Walmart stores will be for customers within a 3 km [~1.86 miles] of 20 select stores. Walmart currently has 426 stores located in nearly 170 Chinese cities.
- In October 2016, Walmart’s share in JD.com rose from 5.9% to 10.8%.
- In July 2016, it was reported that executives from both Walmart and JD.com meet weekly to discuss their retail strategy in mainland China.
- In June 2016, Walmart sold Yihaodian (e-commerce grocery website) to JD.com in exchange for a 5% stake in JD.com. As part of the deal, JD.com (backed by Tencent Holdings) will open an online store for Walmart’s Sam Club. Both companies will also cooperate on logistics (supply chain and delivery services).
- As of early 2016, Alibaba’s Tmall had 58% share of China’s e-commerce market, while JD.com had a 23% market share. At the same time, Walmart had developed three brands in China including its hypermarket series (420 stores), Sam’s Club stores (12), and the e-commerce site Yihaodian (~130 million registered users).
- In November 2015, Walmart China announced plans to open new stores in Inner Mongolia, Yunnan, Shandong, Fujian, Hubei and Guangdong. During the same month, JD.com sued Alibaba in a Beijing court over unfair business practices. JD.com accused Alibaba of “forcing merchants” to exclusively sell/distribute products from a single e-commerce site for promotional marketing/activities.
- In October 2015, China Resources SZITIC, a subsidiary of China Resources Corp, announced it will its 35% stake in 21 Wal-Mart Stores in China for approximately CNY 3.35 billion (US$523.4 million). China Resources SZITIC is a subsidiary of China Resources Corp.
- In August 2015, JD.com purchased a 10% stake in Yonghui Superstores. Established in 2001 and headquartered in Fuzhou, Fujian Province, Yonghui operates 460 medium-sized supermarkets all over China (as of 2015). During the same month, Pepsi announced it would market a new dairy drink, Quaker High Fiber Oats Dairy, via JD.com, a Chinese e-commerce site. It was Pepsi’s first instance of launching a new product exclusively on an e-commerce site not based in the USA.
- In July 2015, Wal-Mart China bought out the remaining 49% of Yihaodian, taking full control (100%) of the e-commerce retail company.
- In June 2015, Agriculture and Agri-Food Canada signed an agreement with the Chinese e-commerce site JD.com in Beijing. As a result, JD.com will launch a page dedicated to selling Canadian agri-food and fish and seafood products within the next year.
- Founded in 2014 and headquartered in Shanghai, New Dada (aka Dada Nexus Limited) is an online delivery service. In April 2016, JD.com announced New Dada would merge with JD Daojia (founded in April 2015).
- In March 2014, Tencent Holdings (internet and tech investment company) purchased a 15% stake in JD.com.
- In October 2012, Wal-Mart increased its stake in Yihaodian to more than 51%.
- In May 2011, Wal-Mart acquired a minority stake in Yihaodian.
- Founded in 2008 and headquartered in Shanghai, Yihaodian is an e-commerce grocery website that has expanded to include household appliance and clothing. In 2011 and 2012, Wal-Mart bought increasing stakes in the company. As of 2014, the company served more than 100 Chinese cities (1-2 day delivery service). In July 2015, the company was bought out by Wal-Mart.
- Founded in 1998 and headquartered in Beijing, Jingdong Mall (aka JD.com) is one of China’s largest e-commerce platforms. In May 2014, the company was listed on New York’s NASDAQ Stock Exchange (NASDAQ:JD). The company’s original focus was electronics.
- In 1996, Walmart opened its first store in Shenzhen, southern China.