Wal-Mart Looks Online For Chinese Growth
As Alibaba Group Holding Ltd. courts investors for a highly anticipated public offering next month in the U.S., Wal-Mart Stores Inc. is busy trying to win over online shoppers in the Chinese e-commerce company’s backyard. Wal-Mart’s online arm in China—called Yihaodian, meaning No. 1 Store—has recently increased the number of products sold on its site, built up its supply chain and streamlined its mobile site in a push to boost sales. Wal-Mart owns a 54% stake in Yihaodian.
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