Wal-Mart Joins Japan's Rakuten to Counter Amazon's Dominance
- Alliance brings Kobo device, ebooks to Wal-Mart’s U.S. stores
- Partnership will also expand Japanese online grocery service
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Wal-Mart Stores Inc. has forged another alliance to counter Amazon.com Inc., partnering with Japan’s Rakuten Inc. to sell e-books in the U.S. and improve its online grocery business in Asia’s second-largest economy.
The collaboration will bring Rakuten’s Kobo device and e-book catalog to Wal-Mart’s U.S. stores later this year, the companies said in a statement late Thursday. The partnership also includes a revamp of Wal-Mart’s online grocery service in Japan that will roll out in the third quarter. The news sent Rakuten shares up 4.5 percent in Tokyo on Friday, their biggest gain in more than eight months.