Walmart is looking to sell Seiyu as part of its overall strategy to invest in the most lucrative markets and e-commerce:
“‘The U.S.-based retailer is ‘divesting noncore assets’ and “investing in new growth areas and technologies,’ CEO Doug McMillon said at Walmart’s annual shareholders meeting June 1. Growth markets such as China and India are a particular focus. The decision to sell Seiyu, after forming a capital tie-up in 2002 and making it a wholly owned subsidiary in 2008, reflects that strategy.”
P.S. Walmart is picking its battles wisely, particularly in the area of e-commerce. Talk to one of our e-commerce experts who can provide your team with the direction it needs to succeed with Walmart online!