WALMART SWALLOWS E-SELLER YIHAODIAN…

People who might not be caught dead walking into a Walmart store may choose to shop at Walmart online because no one but their postal worker would ever know. As Amazon has shown, bricks and mortar are no longer the path to retail riches and in the world's most populace nation, Walmart has secured a major e-commerce beachhead.
It took four years, but Wal-Mart has finally fully gobbled up Chinese e-commerce company Yihaodian. The world’s largest retailer on Thursday said it acquired the final outstanding shares of Yihaodian, taking full ownership of the company after an initial investment began back in 2011. Wal-Mart WMT -1.28% had previously boosted its stake in the company in 2012, when it took a 51% majority control position. Terms of the latest acquisition weren’t disclosed. “Yihaodian has excelled as one of China’s top e-commerce businesses,” said Neil Ashe, president and CEO of Wal-Mart Global eCommerce. He said the investment is part of Wal-Mart’s “long-term commitment to grow in China.” With full ownership of Yihaodian, Wal-Mart plans to invest in both accelerating e-commerce and also an easier experience for customers to shop online, via mobile and in brick and mortar stores. Yihaodian, which was founded in 2008, will continue to operate under its existing name. Wal-Mart touted the Chinese company’s swelling business: it now stocks 8 million product items and serves 100 million registered customers. Those figures are up from 50,000 and 4 million, respectively, back in 2010.
What better way to source cheap plastic crap from China, and potentially grab back the retail crown from Amazon, than to actually own an online retailer awash in CPCFC? Jeff Hess: Have Coffee Will Write.

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