The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
BEIJING, China — Wal-Mart Stores Inc said it was launching its warehouse retail business Sam's Club and a store for imported products on JD.com Inc's platform, three months after the world's largest retailer took a stake in the no. 2 Chinese e-commerce company.
Walmart Stores will also start a two-hour delivery service from its stores in select Chinese cities on Thursday for orders placed on JD Daojia, JD.com's grocery business.
The delivery service will be available from more than 20 Walmart stores in China, and are expected to double by the end of the year.
Walmart's global import store, set to be launched on Friday on JD Worldwide, will give Chinese customers access to products imported by Walmart from its stores around the world.
ADVERTISEMENT
The efforts, part of the agreement announced between the two companies in June, are being launched in time to woo Chinese customers ahead of the Singles' Day shopping festival on Nov. 11.
The US grocery giant said in June it would sell its Chinese online grocery store Yihaodian in return for a 5 percent stake in JD.com, to cure ailing sales in one of the world's toughest retail markets.
For the Sam's Club store, Walmart said it would stock merchandise in JD's warehouses and use JD's same- and next- day delivery service.
Wal-Mart reported a 10.8 percent passive stake in JD.com as of Oct. 5.
By Gayathree Ganesan; editor: Shounak Dasgupta.
Designer brands including Gucci and Anya Hindmarch have been left millions of pounds out of pocket and some customers will not get refunds after the online fashion site collapsed owing more than £210m last month.
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.