JD.com (JD), Wal-mart (WMT) Announce Launch of New Product Offerings Initiative
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Three months after entering into a strategic alliance to expand the breadth and convenience of online shopping options for Chinese consumers, Walmart (NYSE: WMT), the world’s largest retailer, and JD.com (Nasdaq: JD) announced a series of exciting new ways for customers to access high-quality products from around the world.
The efforts, which are part of the original strategic alliance announced in June, are officially launching during the run up to Singles Day on November 11. They will improve logistics and supply chain functions, cross-border e-commerce and online-to-offline (O2O) e-commerce services for consumers across the country.
As part of the growing alliance, Walmart and JD.com are launching three new joint initiatives:
- Exclusive Sam’s Club Flagship Store on JD.com: An exclusive Sam’s Club flagship store will officially launch tomorrow and provide hundreds of millions of consumers access to Sam’s Club’s premium, quality products with JD.com’s same- and next- day delivery service. Walmart will leverage JD.com’s nationwide logistics network and stock Sam’s Club merchandise in JD’s warehouses, which will enable Walmart to reach a vast untapped market, complementing its commitment to open 20 more Sam’s Clubs locations by 2019. As part of a campaign to bring world-famous Sam’s Club products to new consumers, all JD.com users will be able to buy Sam’s Club products at membership prices during a 10-day introduction period following the official launch.
- Walmart Global Imports Store on JD.com: In addition, the companies launched a Walmart Global store on JD Worldwide, JD.com’s cross-border platform. The new store provides Chinese consumers access to a wide variety of high-quality products imported by Walmart from around the world. Walmart plans to continue expanding and adding new categories of products as it connects more items from its assortment in other markets to China, which JD’s last-mile logistics network will deliver to customers through its speedy home delivery service.
- Two-Hour Delivery from Walmart Stores in Select Cities: A two-hour delivery service for customers ordering on JD Daojia, the grocery and fresh goods business of the New Dada joint venture with JD.com, also launched today. The service will provide two-hour delivery from more than 20 Walmart stores. The number of stores is expected to double by the end of the year. This exclusive cooperation follows the merger of Dada and JD Daojia, JD.com’s O2O business unit founded in June 2015. The two merged in April 2016, forming an independent joint venture, “New Dada,” which is China’s largest crowdsourced logistics platform.
“Walmart and JD.com share a vision of providing consumers the best products, quality and service, at highly competitive prices,” said JD.com CEO Richard Liu. “The three areas of cooperation that we are launching exemplify the rapid pace with which our strategic alliance with Walmart is progressing. Combining the strengths of Walmart, as the world’s largest retailer, and JD’s unparalleled same-day delivery network and reputation for authentic products is a potent force for providing Chinese consumers the best shopping experience.”
Walmart CEO Doug McMillon added, “Today's news is the culmination of months of hard work and collaboration with the JD team. Our new services will leverage our combined strengths to give Chinese consumers access to quality products from around the world.”
The series of initiatives will greatly expand the number of products available to Chinese consumers, as well as the number of consumers who have access to some of the products already in the Chinese market. Walmart and JD will continue to explore additional areas of collaboration to provide superior products at fair prices to hundreds of millions of Chinese consumers, with same- and next-day delivery speeds.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Pandora (P) Advisers Said to Begin Reaching Out to Possible Suitors Following Approach from Sirius (SIRI) - Bloomberg
- Celgene (CELG) to Acquire Acetylon Pharmaceuticals
- UPDATE: Johnson & Johnson (JNJ) Talks with Actelion Said to Progress After New Offer North of $250/Share - Bloomberg
Create E-mail Alert Related CategoriesCorporate News
Related EntitiesTwitter, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!