Wal-Mart seeks growth with Chinese partner
By Jack Freifelder in New York | China Daily | Updated: 2014-09-05 07:20
Wal-Mart Stores Inc, the world's largest retail outlet, is looking to increase its presence in China's growing e-commerce market by focusing more attention on its relationship with online grocery store Yihaodian.
Wal-Mart first invested in Yhd in 2011, increasing its stake to more than 51 percent in 2012.
"Building the fulfillment network for grocery fast-moving consumer goods is the hardest network to build, and that is what Yihaodian has done," Dan Toporek, a spokesman for Wal-Mart's global e-commerce office, told China Daily.
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