The Wanda Group is basically ubiquitous in China. The mega-company, which is itself a subsidiary of the China National United Oil Corporation, has its hands in everything from commercial real estate to cultural industries, chain stores, and hotels. Now, it appears the company may be planning to get into e-commerce.
Specifically, the rumor started last Friday, when an industry insider reportedly tweeted:
Wanda is getting into e-commerce, headhunters are already searching for employees.
Wanda has yet to confirm the news, but they haven’t yet denied it, either. One Wanda rep told a reporter that they “hadn’t been notified” by the company’s GM of any e-commerce plans, but the company’s official spokesman has apparently had his phone switched off.
It might seem late to be entering the increasingly-crowded e-commerce market, but Wanda would have a significant size advantage, and its assets in retail could be a significant advantage. Of course, the whole thing could just be a rumor! We’ll keep an eye out.