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Tag: JD

  • JD.com partners with parcel company Evri in the UK

    JD.com partners with parcel company Evri in the UK

    JD.com is supporting the growth of British businesses in the Chinese market as it partnered with parcel delivery company Evri to combine their expertise and resources in e-commerce and logistics.

    The partnership will combine JD.com’s advanced e-commerce capabilities with Evri’s extensive delivery network across Europe. The services will include local pickup, warehousing, international transportation, access to Chinese bonded warehouses, customs clearance, and comprehensive delivery across China.

    The team-up will initially focus on the beauty and apparel sectors, where JD.com has substantial insights, including consumer behaviour, marketing and pricing strategies, product selection advice, and online operational strategies specific to the Chinese market.

    The collaboration will also enable JD Logistics to offer integrated warehousing and comprehensive delivery solutions to clients in Europe by leveraging its self-operated overseas warehouses and Evri’s local distribution network.

    Qun Xue, Vice President of JD.com and Head of JD Logistics International said: “This partnership underscores our dedication to building a robust global logistics network and our commitment to the success of international brands.”

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  • JD.com partners with parcel company Evri in the UK

    JD.com partners with parcel company Evri in the UK

    JD.com is supporting the growth of British businesses in the Chinese market as it partnered with parcel delivery company Evri to combine their expertise and resources in e-commerce and logistics.

    The partnership will combine JD.com’s advanced e-commerce capabilities with Evri’s extensive delivery network across Europe. The services will include local pickup, warehousing, international transportation, access to Chinese bonded warehouses, customs clearance, and comprehensive delivery across China.

    The team-up will initially focus on the beauty and apparel sectors, where JD.com has substantial insights, including consumer behaviour, marketing and pricing strategies, product selection advice, and online operational strategies specific to the Chinese market.

    The collaboration will also enable JD Logistics to offer integrated warehousing and comprehensive delivery solutions to European clients by leveraging its self-operated overseas warehouses and Evri’s local distribution network.

    Qun Xue, Vice President of JD.com and Head of JD Logistics International said: “This partnership underscores our dedication to building a robust global logistics network and our commitment to the success of international brands.”

  • China’s JD beats revenue estimates despite slowing economy

    China’s JD beats revenue estimates despite slowing economy

    Chinese e-commerce firm JD.com beat Wall Street estimates for second-quarter revenue on Wednesday, as its focus on lower-priced products to attract customers amid an economic slowdown paid off.

    JD.com saw increased traffic on the back of purchases ahead of the holiday season and as people attending offices and social functions continued to upgrade their wardrobes.

    Revenue grew 7.6 percent to 287.9 billion yuan (US$39.7 billion), compared with analysts’ average estimate of 278.85 billion yuan, Refinitiv Eikon data showed.

    After China abandoned its stringent COVID-19 lockdown policies, consumption failed to rebound immediately amid a slowdown in the country’s overall economy.

    Recent official economic data has also been gloomy, with the consumer price index tipping into deflation in July.

    Retail sales rose just 2.5 percent, slowing from a 3.1 percent increase in June, despite the summer travel season.

    Analysts had expected retail sales to grow 4.5 percent.

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  • Gucci launches flagship store on JD platform

    Gucci launches flagship store on JD platform

    Gucci and JD.com are delighted to announce a digital partnership and the highly anticipated launch of the official Gucci digital flagship store on the e-commerce leader’s platform. This marks the first time the Italian luxury brand will bring its unique fashion authority and 102-year-old legacy of Italian craftsmanship to the JD.com community.

    Users searching for “Gucci” within the JD.com app will be invited to explore the House’s official flagship store and shop for their favorite items. This will also include a full range experience of Gucci brand services, all within a seamless and secure digital ecosystem. An exceptional customer experience is at the heart of this new collaboration, where customers can browse the store’s extensive range of timeless icons and new-season ready-to-wear, handbags, travel, shoes, jewelry, watches, and accessories for men and women. They will also have special access to Gucci’s online client advisor service before ordering their desired products.

    The opening of the new digital flagship store marks a milestone in the partnership between Gucci and JD.com and underscores their commitment to digital innovation. In response to the evolving digital ecosystem, JD.com continuously delivers cutting-edge digital solutions to fulfill diverse needs. This includes the development of diversified models tailored for the luxury industry, leveraging its state-of-the-art supply chain capabilities and open ecosystem. With the launch of its new online environment on JD.com, Gucci will elevate shopping experiences that are tailored to the tastes of JD.com’s customer base and further explore the unique digital landscape of China using both brands’ respective technological strengths to set a new standard in online luxury shopping, expand their market reach, and pioneer original approaches to digital marketing.

    In celebration of the upcoming Chinese Valentine’s Day on August 22, Gucci’s official flagship store on JD.com will offer a selection of gifts that showcase the House’s exquisite craftsmanship and romantic aesthetic. Featuring floral motifs symbolizing the blossoming of love and emotions, the collection will also present a purse designed exclusively for JD.com customers to celebrate this special occasion. To enhance the moment, customers will also be abl

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  • JD Logistics joins forces with Geopost

    JD Logistics joins forces with Geopost

    JD Logistics and French delivery service Geopost have formed a strategic partnership aimed at strengthening their capabilities by leveraging their warehousing network and delivery capabilities.

    The partnership is expected to enhance international express services between China and Europe, which will see the two companies establish direct-to-consumer (C2C) and business-to-consumer (B2C) shipping solutions, whilst ensuring end-to-end shipment tracking and delivery through a convenient “one-stop” express delivery service.

    Services will include doorstep delivery, dedicated customer support, and digital tracking capabilities throughout the entire logistics process, with global reverse logistics services integrated into the service.

    These services are expected to benefit shippers of individual parcels as well as businesses, small and medium-sized merchants, and direct-to-consumer (DTC) operations, which can offer competitive pricing and faster deliveries by 1-2 days.

    This collaboration allows JD Logistics to enhance its integrated warehousing and delivery services in Europe. This means parcels originating from JDL’s overseas warehouses in Europe can now offer same-day delivery service, surpassing industry standards, in key countries including Germany, The Netherlands, France, the UK, Spain, and Poland.

    The two organisations also plan to develop competitive FBA (fulfillment by Amazon) service capabilities in the European to help merchants increase efficiency and lower costs.

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  • Alibaba tests ChatGPT-style tool as AI buzz intensifies

    Alibaba tests ChatGPT-style tool as AI buzz intensifies

    Alibaba Group on Wednesday said it is developing a ChatGPT-style tool that is currently in internal testing, joining a race by tech companies globally to show they are up to speed on generative artificial intelligence (AI) developments.

    The Chinese e-commerce group’s statement came after the 21st Century Herald newspaper reported that Alibaba is developing a ChatGPT-like dialogue robot which is currently open to employees for testing.

    When asked about the newspaper report, which also said that Alibaba might combine the technology with the group’s communication app DingTalk, Alibaba declined to comment.

    The company said it had been focused on large language models and generative AI for a number of years. Large language models are natural language processing systems which are trained on massive volumes of text, and are capable of answering and comprehending questions as well as generating new text.

    Alibaba’s US-listed shares rose 3.2 per cent premarket after the news.

    Shares in a number of other Chinese AI technology companies have soared in the past few days due to investor excitement over Open.Ai’s ChatGPT, which can generate articles, essays and jokes in response to prompts and has been rated the fastest-growing consumer app in history.

    Shares in Chinese search engine giant Baidu jumped by 15 per cent on Tuesday after it said it planned to complete testing of its “Ernie bot” in March. Google owner Alphabet Inc is also planning its own chatbot service and said it will use more artificial intelligence for its search engine.

    Microsoft, which owns Open.AI, plans to tie ChatGPT in with its search engine Bing.

    On Wednesday, another Chinese tech group JD.com said it was looking to integrate some methods and technology similar to ChatGPT’s into some of its products, such as its e-commerce platform’s customer service.

    A source familiar with NetEase told Reuters that the Chinese gaming company plans to deploy similar large language models technology to serve its education business.

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  • JD.com to slash top exec salaries amid China’s ‘common prosperity’ push

    JD.com to slash top exec salaries amid China’s ‘common prosperity’ push

    China’s JD.com said on Tuesday it would cut the salaries of more than 2,000 senior managers by 10% to 20% next year to help pay for improved benefits for other staff amid the government’s “common prosperity” drive to reduce income inequality.

    Liu also plans to personally donate 100 million yuan to a fund that help children of JD employees should anything happen to their parents, said the letter circulated online and later confirmed by JD.com as authentic.

    “The employee benefits plan is currently being improved, with a focus on front-line staff,” a JD representative told Reuters. The company has 540,000 employees.

    Alibaba Group 9988.HK and Tencent Holdings 0700.HK last year pledged to spend billions to support the effort, while state-owned investment banks have implemented pay cuts and delayed bonus payments this year.

    JD has been hit by a slowing economy and flagging consumer spending this year, though it last week posted an 11.4% rise in third-quarter revenue and said it was seeing signs of a demand recovery as China adjusted it zero-COVID policy.

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  • China’s JD beats quarterly revenue estimates

    China’s JD beats quarterly revenue estimates

    JD.com, beat Wall Street estimates for quarterly revenue on Tuesday (Aug 23) as lockdowns in China to control the spread of the coronavirus boosted online shopping and the company’s “618” shopping event.

    US-listed shares of the Beijing-based company rose nearly 7 per cent in premarket trading.

    The company reported second-quarter revenue of 267.6 billion yuan (US$39.07 billion), topping analysts’ average estimate of 262.31 billion yuan, according to IBES data from Refinitiv.

    Sales in its product segment, which includes online retail sales, rose 2.9 per cent in the quarter, while those from services such as logistics and marketing jumped 21.9 per cent.

    JD.com said net income attributable to ordinary shareholders rose to 4.38 billion yuan, or 1.37 yuan per American Depository Share (ADS) for the three months ended June 30, from 794 million yuan, or 0.25 yuan per ADS, a year earlier.

    Peer Alibaba, beat expectations earlier this month even as it reported flat quarterly revenue growth for the first time in its history.

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  • H&M closes Shanghai flagship after Covid lockdowns

    H&M closes Shanghai flagship after Covid lockdowns

    H&M has shut its flagship Shanghai store, its latest closure in China where consumer demand has slumped amid COVID-19 lockdowns and the fast-fashion retailer has borne the brunt of a backlash against companies that refuse to use Xinjiang cotton.

    Although it was open earlier this month, the three-storey building in downtown Shanghai was on Friday boarded up with its H&M signage gone.

    The world’s second-biggest fast-fashion retailer entered China in 2007 with the opening of the Shanghai flagship store and rapidly expanded. It had more than 500 stores in mainland China early last year but its website currently only lists 376, including the flagship Shanghai store.

    The company declined to comment, citing a blackout period prior to its first-half earnings report on June 29.

    Although nearly a month has passed since Shanghai lifted a strict two-month lockdown, consumers have yet to return to malls in significant numbers.

    Chinese consumers have also beat a retreat from its products after a letter in which H&M expressed concerns about allegations of forced labour in the Xinjiang region came to light in 2021.

    Other brands that publicly disavowed Xinjiang cotton such as Inditex’s, Zara, Nike and Adidas have also suffered with Chinese netizens calling for boycotts and Chinese celebrities refusing to work with them.

    But the backlash against H&M, the first foreign retailer to express concerns, has been particularly harsh. Unlike other brands, its products remain unavailable on major Chinese e-commerce sites such as Tmall and JD.com.

    UN experts and rights groups estimate over a million people, mainly Uyghurs and other Muslim minorities, have been detained in recent years in a vast system of camps in China’s western Xinjiang region.

    Many former inmates have said they were subject to ideological training and abuse in the camps. China denies all accusations of abuse.

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  • JD beats revenue estimates but CEO cautious over Covid outbreaks

    JD beats revenue estimates but CEO cautious over Covid outbreaks

     E-commerce group JD.com, beat estimates for quarterly revenue as more people shopped on its platform following COVID lockdowns in China, but its CEO was cautious on the outlook due to logistical disruptions and sluggish consumption.

    The resurgence of COVID-19 in the world’s second-largest economy in March and the strict lockdowns it has taken since to curb its spread, including in its most populous city Shanghai, have heavily disrupted normal life and business activity.

    JD.com CEO Xu Lei told analysts on a post-earnings call on Tuesday that the situation was far different to what China experienced in the past two years when outbreaks were limited to smaller areas of the country and boosted online shopping.

    This time, the spread of infections to major centres such as Beijing, Shanghai, Guangzhou and Shenzhen, and lockdowns were affecting both online and offline commerce.

    “In April, the order cancellation rate was significantly higher than last year due to logistical disruptions. There was an improvement in May, but it was still higher than a year earlier,” he said.

    “Consumers are facing loss in income and confidence, and overall consumption is sluggish,” Xu added.

    Shares in the Chinese company initially surged as much as 9% higher in pre-market trading but were flat when the market opened and after Xu’s comments.

    Analysts at Nomura estimated in mid-April that 45 cities in China, representing 40% of its GDP, were under full or partial lockdowns.

    Shanghai’s lockdown has been particularly strict with residents unable to shop for much more than daily necessities due to logistics bottlenecks and a shortage of couriers. The capital Beijing has also been tightening restrictions as it tries to stave off an outbreak.

    Underlining the impact of such measures, China’s retail sales fell 11.1% last month in their biggest contraction since March 2020.

    Still, investor sentiment towards JD.com and its peers on Tuesday was helped by comments Chinese Vice Premier Liu He at meeting with tech executives, which fanned hopes that a long-running regulatory crackdown on the sector is easing.

    U.S.-listed shares of Chinese firms rose after Liu said the government supported the development of the sector and public listings for technology companies.

    E-commerce rival Alibaba Group also surged 7% and Pinduoduo climbed more than 8% before the market opened.

    JD.com reported revenue of 239.66 billion yuan ($35.6 billion) for the quarter ended March 31, compared to Wall Street analysts’ estimates of 236.66 billion yuan, according to IBES data from Refinitiv.

    Excluding items, JD.com posted a profit of 2.53 yuan per American depository share (ADS), compared with analysts’ expectations of 1.62 yuan.

    The net loss attributable to ordinary shareholders stood at 2.99 billion yuan, compared with a profit of 3.62 billion yuan a year earlier.

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  • China’s JD Logistics seals US$1.1bn capital increase, stock drops

    China’s JD Logistics seals US$1.1bn capital increase, stock drops

    China’s JD Logistics priced new shares issued on Friday (Mar 25) in a US$1.1 billion capital increase at a steep discount to their previous close, triggering a slump in its stock early in the Kong Kong trading session.

    According to a Hong Kong Stock Exchange filing, JD Logistics priced the shares at HK$20.71 each, a discount of about 10 percent to Thursday’s closing price, to raise HK$8.53 billion (US$1.09 billion) on Friday. The stock fell by up to 11 percent on Friday in early trade to HK$20.35.

    The deal consisted of a placement of about US$700 million worth of shares to its parent company JD.com, and about US$400 million in a primary share sale, according to filings on Thursday.

    It was the first follow-on share sale in Hong Kong since Feb. 21, and the biggest since Sunac China carried out a US$580 milllion top-up placement in early January.

    It was also the third-largest follow-on deal in Asia and fifth globally this year, according to Refinitiv data.

    The share sale came despite ongoing volatility in regional equities markets, with Hong Kong’s Hang Seng Index down 6.5 percent this year.

    The top 15 investors who bid during the bookbuild were allocated 80 per cent of the stock that was on offer, according to a source with direct knowledge of the matter, who declined to be identified because he was not authorised to discuss the deal.

    JD.com did not immediately respond to a request for comment on the deal’s composition.

    JD Logistics said it would use the money raised to help fund potential acquisitions and build up its cash reserves.

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  • China’s JD Logistics agrees to buy courier company Deppon

    China’s JD Logistics agrees to buy courier company Deppon

    Chinese e-commerce giant JD.com on Sunday said that its subsidiary JD Logistics has agreed to buy domestic courier Deppon Logistics.

    Under the deal, JD Logistics will acquire 99.99% equity stake in Deppon Holdco for a total consideration of about 9 billion yuan ($1.42 billion). Deppon Holdco owns a total of about 66.50% of Deppon Logistics.

    JD Logistics will then make an offer for all the issued shares of Deppon Logistics not held by Deppon Holdco, for 13.15 yuan per share.

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  • Cettire leaps into China, partnering with JD

    Cettire leaps into China, partnering with JD

    Online luxury fashion platform Cettire said it has penned a new deal to enter mainland China through a partnership with e-commerce giant JD.com, sending its shares up by more than 21 percent.

    Mainland China is expected to be the world’s largest market for personal luxury goods by 2025, representing around 25 percent of the $600 billion global markets.

    Cettire believes this is a $150 billion potential market opportunity for the group that sells luxury bags, clothing, and shoes for adults and children, and is making a push into the beauty segment.

    On Monday, Cettire shares jumped 21.79 percent to $2.85 each, clawing back nearly all of last week’s major slide lower, and pushing its market capitalization up over $1.1 billion.

    Chief executive and founder Dean Mintz said China represented a “vast” opportunity given the market size for personal luxury goods and the importance of e-commerce.

    Cettire’s brands ranging from Balenciaga to Burberry will be available to mainland Chinese consumers during the second half of the calendar year 2022.

    “Our entry into China is a significant milestone towards our goal of being the world’s largest luxury destination,” Mr Mintz said.

    “China represents a vast market opportunity, and it is core to our strategy to make our world-class proposition available to additional markets. Today’s announcement is another step in our strategic journey to achieve this goal.”

    E-commerce platform JD.com has 550 million active customers and is China’s largest online retail platform, with 745.8 billion yuan ($1.66 billion) in revenue in fiscal 2020. JD.com is a supply chain-based technology and service provider to help brands and partners drive sales.

    Through the Cettire partnership, Chinese consumers will have access to 1700 luxury brands and post-sales support, the company said.

    JD.com will help to drive traffic, brand awareness and accelerate growth for Cettire in China, with scope for Cettire to leverage JD.com’s extensive local logistics capability, which provides one of the largest fulfillment infrastructures globally.

    In late 2021, Cettire hired local Chinese engineers in mainland China to support the development of website features specific to China and Chinese speakers globally – including launching Chinese language websites to all Cettire’s existing markets.

    Cettire holds no inventory of its own, with products ordered via its website, and sent from third-party suppliers. Cettire’s fulfilment is fully automated.

    Unlike larger rival Farfetch, Cettire has only flagged one direct brand relationship with Italy’s Staff International. Brands like Gucci (owned by French-based multinational Kering) have no say on the pricing of its products on Cettire’s marketplace. Cettire has also geoblocked French and Italian IP addresses, making it more difficult for such fashion houses to see where product is coming from.

    Cettire was advised by Highbury Partnership on the deal.

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  • Shopify and JD to create world’s largest cross-border e-commerce market

    Shopify and JD to create world’s largest cross-border e-commerce market

    For entrepreneurs, there are many exciting moments in the journey to celebrate: first product, first sale to a happy customer (who isn’t a family member), first marketing campaign. But entrepreneurship is a daily effort—to build a brand, to expand the business, to attract even more customers. That’s why we’re so passionate about making it easier for independent brands to succeed, and now that success doesn’t have to be limited to their town or even country. Commerce is global, and we’re giving merchants, of any size, the tools to show up wherever their customers are.

    With a population of 1.4 billion, China is home to the world’s largest ecommerce market, estimated to be worth $3.3 trillion by 2025*—that’s more than five times larger than the US ecommerce market**. In fact, over half (52%) of all retail sales in China in 2021 were predicted to come from ecommerce alone***. Despite this enormous potential, China has often remained inaccessible to independent businesses and upstart entrepreneurs abroad. Regulatory and logistical barriers, as well as complexities related to pricing, duties, and translations, can be daunting to deal with for all but the largest of brands.

    A partnership between Shopify and JD.com means that we’re unlocking the world’s largest ecommerce market for merchants by giving them access to one of China’s leading ecommerce marketplaces. By letting merchants easily list their products on JD’s cross-border ecommerce platform JD Worldwide, this new sales channel opens access to JD’s 550 million active customers in China who are shopping for authentic, high-quality products from brands all over the world.

    “Altuzarra is excited to leverage the Shopify and JD.com partnership,” said Shira Sue Carmi,  CEO of Altuzarra, the namesake label of fashion designer Joseph Altuzarra. “Given Joseph’s Chinese heritage and the great momentum we are seeing with our business overall, we see tremendous opportunity for Altuzarra in mainland China and are thrilled to be able to explore it easily and seamlessly through Shopify’s new JD Marketplace channel.”

    Compared to the 12 months typically required for foreign brands to begin selling in China, JD’s streamlined channel, JD Marketplace, will allow Shopify merchants in the US to get started in as quickly as three to four weeks. To support merchants in their effort to begin selling into China, the channel will provide:

    • Expedited onboarding to help merchants sell quickly
    • Logistics that handle end-to-end fulfillment from JD’s US warehouses directly to consumers in China, leveraging JD.com’s China-US cargo flights, 1,300+ warehouses and 200,000+ delivery personnel in China
    • Smart price conversion to local currency based on foreign exchange rates, typical category pricing, as well as VAT and Consumption Tax
    • Intelligent translation of product names and descriptions

    “Bringing together two world-class commerce platforms—Shopify and JD.com—is a major step in solving cross-border commerce for merchants,” said Aaron Brown, Vice President at Shopify. “The future of commerce is commerce everywhere—and that starts by removing barriers to entry to one of the most important ecommerce markets in the world.”

    “JD.com is thrilled to partner with Shopify,” said Daniel Tan, President of JD Worldwide. “We believe that the partnership will unlock the huge potential of the Chinese market for brands outside of China. At the same time, it will increase cross-border commerce by leveraging our global supply chain abilities, simplifying what has traditionally been a very complicated process.”

    The JD Marketplace sales channel is part of a larger strategic partnership between Shopify and JD.com that aims to help solve cross-border commerce challenges across product sourcing, selling, and logistics for merchants in the US and China. The sales channel will be available to Shopify’s US merchants starting today, January 18.

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  • Muji launches fresh food concept store with JD

    Muji launches fresh food concept store with JD

    Japanese retail giant, Muji, has forayed into the fresh food industry with the launch of a food complex in collaboration with JD’s Seven Fresh in Shanghai.

    Operated by both companies, the complex is located inside Ruihongtiandi shopping mall and spans 400sqm, housing a Muji store and fresh food supermarket, Seven Fresh, which is also the chain’s first presence in the city.

    Unlike Muji’s usual stores, the 1208sqm Muji store in the complex offers an expanded selection of food products, including ramen, oatmeal, frozen food, ice cream and pizza. Its fashion brands, Muji Labo and Muji Walker, are also available in the store.

    The Seven Fresh store features an omnichannel concept with both online and offline services, and customers can have their online orders delivered in as soon as 30 minutes.

    The store-in-store concept is not the first collaboration of the two companies: last year, Muji launched a new format MUJIcom, at JD headquarters in Beijing, providing employees selected products such as daily necessities and food, including lunch boxes featuring simple meals.

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