According toHome Channel News,Home Depot has reached an agreement with360Buy.com, one of China’s biggest retailers. This will allow Home Depot to launch its own Chinese e-commerce sales after announcing the closing of seven remaining big-box stores in China earlier this month.
The company said it was in the beginning
stages of developing relationships with several of China’s leading e-commerce
websites, but it did not name which ones.
However,Carol Tome, Home Depot’s CFO, has been reported to say that
Home Depot has already started selling goods on 360Buy.com in China and is
looking for opportunities to partner with other e-commerce sites. This includes
Alibaba Group’s Tmall.com, a competitor of 360Buy.com.
According to the agreement so far, 360Buy.com
will provide Home Depot with a platform to open its online stores.
Source: Home Channel
News, via the Morning Whistle