JD.com teams up with Central Group for Thailand venture

JD.com teams up with Central Group for Thailand venture

China’s JD.com and the Thai retail conglomerate are teaming up to “reshape Thailand’s online retailing and finance landscapes”. In a statement issued today (15 September), JD.com said that half of the $500m investment for the new venture will come from Central Group, and the remainder from JD.com, JD Finance and Provident Capital (which is also JD.com’s strategic partner for its Indonesian e-commerce business).

JD.com said that Central Group will “leverage its immense retail resources, including its physical store network, which will serve as key omni-channel and payment locations”.

Furthermore, added JD.com, Central Group will “open multiple flagship stores on the e-commerce platform for its department stores and key retail chains, as well as for select brands owned or operated by Central Group”.

Richard Liu, JD.com’s Chairman and CEO, commented: “Thailand’s large population and developed infrastructure, including strong national logistics networks, give it tremendous potential for both e-commerce and fintech services.

“Working with Thailand’s strongest retail conglomerate, with a massive shopping mall and department store network, gives us a huge competitive advantage as we expand further into Southeast Asia.”

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