A growth rate of 19218% (no, you didn’t miss a comma: nineteen thousand and two hundred eighteen percent).
That’s what the winner of the 2011 Deloitte Technology Fast500 Asia Pacific achieved over a 3 year period. Launched in 2008, the Store Corporation (Yihaodian) provides Chinese customers with a one-stop shopping platform, offering all their essential daily items at competitive prices (3-5% cheaper than in supermarkets).
The next question is of course whether such growth can be sustained. So far, one of the biggest problem faced by the firm is storage. At least one company feels it’s worth the try: Walmart acquired a minority stake in the firm during the summer: it may not be enough tho maintain such hyper-growth rates but a strategic partnership with the world’s largest supermarket chain will at the minimum bring some insight into the logistics aspect of the business.
P.S.: According to BCG another 30m Chinese will go online to shop for the first time every year until 2015.