China'S Power Business Adds Strength To WAL-MART Holding One Store

WAL-MART wholly owned 1 shop or become a domestic electricity supplier giant?

Fully take over shop No. 1 to abandon self built e-commerce platform.

WAL-MART has purchased the remaining shares from China Ping An and former chairman Yu Gang of the 1 shop, and has wholly owned the e-commerce business of No. 1 store in China, in the hands of CEO Liu Junling.

Wang Lu, President of WAL-MART global e-commerce Asia, will take charge of shop No. 1.

WAL-MART held a 51% stake in shop No. 1.

Wang Lu, President of WAL-MART global e-commerce Asia region

Yu Gang

Liu Junling

Prior to media reports, shop No. 1 after being safe and WAL-MART shares, gang and Liu Junling lost control of the 1 shop.

After dilution, there is only 11.8% remaining shares in management and staff in shop No. 1.

After that, shop No. 1 has become part of WAL-MART's global e-commerce, but the cooperation between Shop No. 1 and WAL-MART China is not obvious.

Dong Minglun, President and chief executive officer of WAL-MART global, visited China in April this year when he said in an interview: "without the Internet, WAL-MART's business may not develop so fast.

Of course, we also hope to develop e-commerce in China.

WAL-MART is satisfied with the investment of No. 1 store and believes that it will continue to work together with store No. 1 to achieve greater success. "

In July 15th, with the opening of two e-mails, the fact that Yu Gang, chairman of the 1 store, and CEO Liu Jun Ling left the company had become the facts of the nail on board.

WAL-MART Global

President and chief executive officer NeilAshe announced in his announcement of Liu Junling's departure: "shop No. 1 will continue to serve Chinese consumers as an important part of WAL-MART's strategy in China.

We are satisfied with the success of shop No. 1 in China and will continue to accelerate its development.

WAL-MART will continue to base itself on long-term investments in the Chinese market and e-commerce. "

WAL-MART said that shop No. 1 is in pition and will arrange WAL-MART headquarters Wang Lu to take over.

Wang Lu, a recruiting director of WAL-MART headquarter, has over 20 years experience in China's IT media industry. He once held an important position in China computer newspaper.

As president and vice president of CNET Networks in China, he has led the development direction and business expansion of CNET (China).

From Sam app, a small thunderstorm and heavy rain, to the 1 shop, and now to a wholly-owned acquisition, WAL-MART's ambition to enter the business has never changed.

What's next? The 2014 China Internet retail market data monitoring report released China's B2C market share in 2014: 1, Tmall (59.3%); 2, Jingdong 20.2%; 3, suning.com 3.1%; 4, vip.com 2.8%; 5, Gome 1.7%; 1.7%, Amazon China;

1.4%; 8, Yi Xun 1.1%; 9, Ju Mei 0.6%, 10, all other B2C:7%.

Will WAL-MART, who has just won the world's top 500, become another giant in the Chinese electricity industry?