E-Commerce is growing rapidly in China
A few days ago, American giant retailer Wal-Mart agreed to increase its investment in the holding company of Yihaodian, a fast-growing E-Commerce website in China. After the transaction Walmart will have a majority stake of around 51 %
Yihaodian was launched in July 2008 and has more than 180000 products on stock. It enjoys a growing importance in online grocery sales but also in segments like baby/mom, consumer electronics and apparel. The company has 5400 employees and disposes of a logistics network based in Shanghai, Beijing, Gujangzhou, Wuhan and Chengdu. It is customary that the daily essential goods are delivered the same day or the next day and at competitive prices.
Wal-Mart will provide the necessary financial means and additional retailing know how for the enhancement of Yihaodian in view to logistics, infrastructure, innovative talent and new technologies and its expansion in the middle and western regions of China.
On the other hand, Yihaodian has also a strategic institutional investor in Ping An Insurance (Group) Company of China, Ltd., established 1988 in Shekou, Shenzhen and its shares are traded at the Hong Kong and Shanghai Stock Exchange, and today the group is a an integrated financial service conglomerate offering insurance, banking and investment opportunities and ranks among the leading global companies and Fortune Magazine’s Global 500 Leading Companies were ranking Ping An Group as No. 1 among China’s non state owned enterprises.