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Video: Doug McMillon on Why Wal-Mart Chose Jet.com

1 min read

Wal-Mart announced Monday that it would acquire retailer Jet.com for $3 billion. According to Wal-Mart, acquiring Jet will help the company connect with urban and millennial shoppers and compete more effectively with online retail giant Amazon.com.

Wal-Mart CEO Doug McMillon talked to CNBC’s “Squawk Box” about the pending acquisition and what he saw in Jet.com

“We’re serious about e-commerce and want to serve customers in the way that they want to shop,” McMillon said in the interview. “The Jet brand adds to the Wal-Mart porfolio. Around the world we operate 74 different brand names.”

Watch the inteview below:

 

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