• The Wall Street Journal reports that Walmart has struck a deal to acquire Cornershop - described as a “three-year-old startup that runs marketplaces, through an app, for on-demand delivery from supermarkets, pharmacies and other food retailers in Mexico and Chile” - for $225 million.
The move, the Journal writes, extends “an overhaul of its international retail strategy to focus on digital commerce … The acquisition follows an investment Walmart recently took in Chinese online grocer Dada-JD Daojia and a working agreement the company struck this year with Japanese grocery-delivery service Rakuten Kobo Inc., actions that come as the retailer is scaling back bricks-and-mortar operations in the U.K. and Brazil.”
The move, the Journal writes, extends “an overhaul of its international retail strategy to focus on digital commerce … The acquisition follows an investment Walmart recently took in Chinese online grocer Dada-JD Daojia and a working agreement the company struck this year with Japanese grocery-delivery service Rakuten Kobo Inc., actions that come as the retailer is scaling back bricks-and-mortar operations in the U.K. and Brazil.”
- KC's View:
