Get the app today! Download iPhone App Download Android App

Amazon's Chinese Unit In Merger Talks With NetEase's Kaola

Published on Feb 19 2019 12:30 PM in Technology tagged: Trending Posts / China / Amazon / Kaola / NetEase Inc

Amazon's Chinese Unit In Merger Talks With NetEase's Kaola

Amazon.com, Inc.'s Chinese joint venture is in talks for a merger with local e-commerce firm Kaola, which sells imported products in the Asian country, business magazine Caijing reported on Tuesday.

Kaola, owned by NetEase, Inc., sells apparel, household appliances and other products, and it is the biggest among Chinese shopping sites that focus on imported goods, followed by Tmall Global and JD Worldwide, according to a report.

It buys goods directly from overseas manufacturers, and last year, it imported more than 5,000 brands from 80 countries.

Competition With Home-Grown Rivals

Amazon has been trying to push into China and compete head-on with home-grown rivals Alibaba Group Holding and JD.com, but so far, the Seattle-based online retailer has not made any significant headway in the country.

As of mid-2018, Alibaba led the e-commerce market in China, with a 58.2% share, while Amazon was a distant seventh, with a less-than-1% market share, according to research firm eMarketer.

Amazon did not immediately respond to Reuters' request for comment on the Caijing report. NetEase declined to comment.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

Share on Facebook Share on Twitter Share on LinkedIn Share via Email