Perspectives
Wal-Mart Stores Inc has reached an agreement to acquire a minority stake in Yihaodian.com. The agreement endorsed Yihaodian to sell Wal-Mart’s self-owned branded products, including Great Value, one of Wal-Mart’s most famous food brands in China.
Yihaodian.com was neither the oldest nor the biggest online shopping website in China, nevertheless it won Wal-Mart Stores Inc’s favor this summer and made the US retail giant a shareholder.
According to Yu Gang, the company’s chairman and co-founder, yihaodian.com plans to make the idea of an online supermarket a nationwide phenomenon – at a startling speed.