International Business

Walmart acquired a minority interest in Chinese e-commerce company Yihaodian, the company announced Friday morning. Yihaodian was launched in July 2008 and currently offers 75,000 products and next-day delivery on essential items from an existing logistics network in Shanghai, Beijing and Guangzhou.

Bentonville, Ark. -- Wal-Mart Stores is buying a minority stake in online company Yihaodian, which sells groceries, consumer electronics, clothing and other items. Terms of the deal and the size of the stake were not disclosed.

The deal will help expand the Wal-Mart’s reach into China, where it has 328 stores (as of Dec. 31, 2010).

SAN FRANCISCO — Gap Inc. has announced plans to bring the Gap brand to Serbia and Ukraine through new agreements with existing franchise partners. The stores are scheduled to open in 2011 in the cities of Belgrade and Kiev where customers will be able to shop products from Gap, GapKids and babyGap.

ELMWOOD PARK, N.J. — The Craft & Hobby Association (CHA) board of directors has announced the departure of Steve Berger as president and CEO of CHA. The board of directors will immediately begin a search for a new chief executive. No timetable has been set for securing a replacement. In the interim, Tony Lee, VP meetings and expositions, will serve as acting president and CEO.

San Francisco -- Gap plans to open stores in Serbia and Ukraine later this year as its continues to expand its international operations.

The chain said Friday that it signed new deals with existing franchise partners that will put Gap stores in Belgrade and Kiev.

According to Stephen Sunnucks, the company's international president, the Ukraine is the fastest-growing retail market in Eastern Europe, while Serbia has many young customers who enjoy shopping.

New York City -- Britain’s trendy fashion brand Superdry plans to open three stores in the United States by July.

New stores are slated to open at Valley Fair, Santa Clara, Calif., in late May; at the South Street Seaport in Manhattan in June; and at Mall of America, in Bloomington, Minn., in July.

The company, which hopes to open 10 to 12 stores a year over the next four years, would like to open additional stores in the Los Angeles, Boston, Chicago and Miami markets, according to Women’s Wear’s Daily.

Organic growth initiatives come out on top (46%) when it comes to how to increase market share, followed by a mix of organic growth and M&A (22%) and primarily M&A (22%), according to a survey of 152 senior financial executives of global retail companies by KPMG International.

New York City -- Nordstrom is taking its vaunted customer service to the next level: The company will roll out mobile checkout devices to its stores nationwide by the start of its anniversary sale in July, Nordstrom president Blake Nordstrom told shareholders Wednesday at the company's annual meeting in Seattle. The retailer, which has tried a variety of different devices, is currently testing the iPod Touch in its downtown Seattle and Bellevue Square stores.