Yihaodian.com, a subsidiary of Walmart China, reported annual sales of $1.89 billion in U.S. dollars, up 77% from a year ago. Walmart owns a 51% stake in the online food business that nearly doubled its number of registered users to 57 million last year, according to the earnings statement.
Known for its imported gourmet portfolio, Yihaodian sold 250 million units of imported food. Almost 40% of imported diary products in China were sold from the Yihaodian channel, according to media reports out of China.
Yiihaodian initiated its delivery of fresh food, such as fruits and vegetables, to Beijing, Shanghai and Shenzhen to further tap the online grocery market. Such service will be extended to Chengdu and Wuhan next year.
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