Prologis – 'Water is building behind the dam'
…when will it break?
© Philipp Ketteler
By Alex Lennane
So Amazon has failed at something: it has pulled out of China, a market sewn-up by its rivals, reports Reuters. It says it will close its Chinese online store by July, ending services on amazon.cn. Shoppers in China will no longer be able to buy goods from domestic third-party sellers, but can still order globally via Amazon’s other platforms. Amazon purchased Chinese online site Joyo in 2004 for $75m, but with Alibaba’s Tmall and Jd.com controlling 82% of the market, Amazon failed to gain traction.
Comment on this article