Walmart Shows "Confidence in Independent Business" Amid JD.com Stake Sale in China
Bloomberg reported on the 22nd (local time) that Walmart, the largest retail distributor in the United States, decided to sell its stake in China's JD.com based on the judgment that independent business operations in China are possible.
According to the report, Walmart sold all 144.5 million shares of JD.com, the second-largest e-commerce company in China, the day before. Walmart had maintained a cooperative relationship with JD.com for eight years.
Some interpreted this as Walmart withdrawing from its business in China, but Bloomberg explained, "Walmart's decision reflects confidence that, based on its success in the Chinese market, it can operate independently without cooperation with JD."
In fact, the report states that Walmart initially needed JD.com's infrastructure when it began to expand its online distribution business, but now it has established its own application and logistics infrastructure. Unlike Western distributors struggling in the market, Walmart continues to grow based on its membership-based Sam's Club.
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Meanwhile, Walmart has not responded to Bloomberg's report.
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