JD.com Inc (NASDAQ:JD) shares are up as the company has reached a deal in China with Wal-Mart Stores Inc (NYSE:WMT).
The e-commerce company — which has its headquarters in Beijing — will control the brand and website for its virtual store Yihaodian.
Meanwhile, Wal-Mart will take care of Yihaodian’s direct sales business. The two companies are looking to “further develop” the brand.
Sam’s Club China will also benefit from the deal, as the company will offer its products on JD.com for the first time.
JD stock is up 4.6% Monday. WMT stock is up 0.2%.
