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Walmart Increases Ownership In Chinese Website
Retail giant Walmart is moving into the Chinese market.
February 19, 2012- Walmart announced it would purchase a 51% share in Yihaodian, an ecommerce website in China. It marks a substantial move for the retailer to increase its presence online in China. Details of the deal were not disclosed. The website is one of the fastest-growing businesses in China. Walmart has held a small stake in the company, which has over 180,000 products for sale that range from apparel to grocery items to consumer electronics.
Yihaodian...