Wal-Mart forms ecommerce partnership with JD.com
The new alliance between Wal-Mart Stores Inc and JD.com Inc is expected to give Wal-Mart wider customer access and offer a fresh start to its struggling retail business in China.
Wal-Mart said the alliance expands its opportunity in e-commerce and provides its stores and Sam’s Clubs with potential traffic from JD’s huge customer base and also will allow it to use JD’s same-day delivery network. Wal-Mart will receive about a 5 percent stake in JD and the companies will partner in several strategic areas.
Doug McMillon, CEO of Wal-Mart, said earlier that the company needs to succeed in China, where it estimates that 25 percent of global retail growth will be in the next five years.