Walmart unveils new Chinese investment

By Ding Yining | October 21, 2016, Friday |

Online Edition

WAL-MART Stores Inc said today it will invest US$50 million in Chinese online grocery and delivery crowdsourcing platform New Dada as the retailer seeks to expand its tie-up with local online players as consumers are shifting focus towards online retailers.

Walmart earlier this year sold its subsidiary, Shanghai-based online retailer Yihaodian, in exchange for a minority stake in JD.com.

The investment in New Dada, which is part-owned by JD.com, would also deepen the collaboration between the US retailer and JD.

"We look forward to deepening our cooperation with Walmart as China’s O2O retail industry continues to evolve and grow," said Philip Kuai, CEO of New Dada.

Dada's application, which provides on-demand logistics and grocery delivery, boasts more than 25 million registered customers with 2.5 million crowd-sourced deliverers across more than 300 cities in China.

The announcement came after Walmart said it would launch an exclusive Sam’s Club and Global Imports stores on JD.com, as well as two-hour grocery delivery for orders placed on JD dispatched by New Dada.

Consumer

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Walmart unveils new Chinese investment

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