Wal-Mart is not leaving any stone unturned to improve its business in China. Sustaining any business in a market like China is lucrative, but, is gradually becoming more challenging, especially for the eCommerce players.
To uphold the challenging market and the tough competition, Wal-Mart Stores Inc. has increased its stake in China’s No. 2 eCommerce site – JD.com. According to sources, lately, Wal-Mart had revealed that it has upped its stake in JD.com to 10.8 per cent from 5.9 per cent.
Wal-Mart, based in Bentonville, Arkansas, aims to boost global online growth. The company had bought an initial stake in JD.com couple of months back. The stated deal gave JD.com possession to its Chinese business Yihaodian eCommerce site, including the brand and app.