Amazon's Chinese Unit in Merger Talks With NetEase's Kaola: Report

Amazon's Chinese Unit in Merger Talks With NetEase's Kaola: Report
Advertisement

Amazon.com'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, sells apparel, household appliances and other products, and is the biggest among Chinese shopping sites that focus on imported goods, followed by Tmall Global and JD Worldwide, according to a report from consulting agency iiMedia.

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

Amazon has been trying to push into China and compete head-on with homegrown 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 percent share, while Amazon was a distant seventh with a less that 1 percent 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.

© Thomson Reuters 2019

Comments

For details of the latest launches and news from Samsung, Xiaomi, Realme, OnePlus, Oppo and other companies at the Mobile World Congress in Barcelona, visit our MWC 2024 hub.

Further reading: Amazon, Kaola, NetEase
Google to Buy Data Migration Company Alooma in Cloud Push
Samsung Galaxy Watch Active, Galaxy Buds Leak Just Ahead of Unpacked 2019 Event
Share on Facebook Gadgets360 Twitter Share Tweet Snapchat Share Reddit Comment google-newsGoogle News
 
 

Advertisement

Follow Us

Advertisement

© Copyright Red Pixels Ventures Limited 2024. All rights reserved.
Trending Products »
Latest Tech News »