Walmart, the U.S. retail giant, aims to consolidate the online business e-commerce in China by purchasing 51% of an industry leader.
Walmart, the American multinational active in the field of retail , has strengthened its presence in the market of 'e-commerce in China and became the owner of 51% of Yihaodian, a leader in the industry.
The U.S. company did not disclose the details of the operation, however, which indicates a strong interest to develop in this field. "It 's the sign of how seriously Walmart seems determined to develop e-commerce platform in China . purchase control of the company, of course, means having a say in how Yihaodian expands, "said Torsten Stocker, an analyst with Monitor Group.
Founded in 2008, Yihaodian is one of the Chinese companies with the fastest growing thanks to the sale of 180, 000 products ranging from consumer electronics items for those clothing. The company operates logistics centers in Shanghai, Beijing, Guangzhou, Wuhan and Chengdu, and is able to guarantee delivery the same day or the next day.
In China, the e-commerce sector is dominated by the giant Taobao, Alibaba creature, while in the U.S. the main player is Amazon. Walmart can not boast a strong presence in the activity of e-commerce , since the sale online is only a small percentage of its total revenue, which in 2010 exceeded 408 billion dollars. However, last last year Walmart has tried to bridge the gap and get more skills through the acquisition of two companies: one, Kosmix, specializing in the management of information from social media sites: the other, Small Society, active in the creating applications for mobile shopping.
Also in 2011, a small pilot program launched in San Jose, Calif., has allowed the U.S. multinational to launch the sale of fresh food on the network.
In China, Wal-Mart now owns more than 350 stores recorded steady progress in sales which increased by 16.1%. He has recently been appointed the new head of the Chinese business Greg Foran, a man of great experience, which goes to replace Ed Chan.
According to Neil Ashe, president and chief executive of Walmart Global e-commerce, investment of Yihaodian, in addition to achieving the objectives of development of electronic commerce, "helps to increase the Chinese domestic consumption, helps to stabilize prices, and promotes the 'expansion of the central and western regions. "
Article, good, bad depending on your POV2002-02-08 11:28:46 by letitflyfur
From high-tech to blue collar
By Rachel Konrad
Staff Writer, CNET News.com
February 8, 2002, 4:00 AM PT
A year ago, Jose Carlos Cavazos was enthusiastic about his new career in telecommunications and his position with Nortel Networks. Now he's throwing mail on the night shift at a U.S. Postal Service distribution center for $13 an hour.
Cavazos didn't plan to go from high-tech to blue collar. But after eight months without a job, the 37-year-old Raleigh, N.C., resident had burned through his 401(k) savings and was nearing the end of unemployment insurance. He took the postal job to pay the mortgage--even though it leaves him wanting professionally
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