Wal-Mart Stores Inc. (NYSE:WMT) has raised its investment in a Chinese eCommerce firm.
Wal-Mart Stores Inc. eCommerce China Investment Boosted
Wal-Mart Stores Inc. (NYSE:WMT) announced that it has inked an agreement to increase its investment in the holding company of Yihaodian.
The investment in this fast-growing eCommerce website in China will bring Wal-Mart Stores Inc. (NYSE:WMT)’s total ownership stake to approximately 51 percent.
Neil Ashe, President and CEO of Wal-Mart Stores Inc. (NYSE:WMT) Global eCommerce, said that, “This investment further enables Wal-Mart Stores Inc. (NYSE:WMT) to deliver a superb customer experience to Chinese consumers that are already connected to the world through smart phones and social media. We are on track to create the next generation of eCommerce, offering the latest in online innovations to give our customers a unique shopping experience. Wal-Mart Stores Inc. (NYSE:WMT) is very impressed with Yihaodian’s strong management team, solid competence in supply chain management and, like Wal-Mart Stores Inc. (NYSE:WMT), they are committed to outstanding service to their customers.”
Wal-Mart Stores Inc. (NYSE:WMT) shares are currently standing at 62.48.

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