- General
- July 22, 2018
- 3 minutes read
E-commerce company JD reported to be planning entry into the European Market
image credit : Flickr/ Daniel Cukier Chinese e-commerce company JD.com and third largest global internet company by revenue now has plans…
image credit : Flickr/ Daniel Cukier
Chinese e-commerce company JD.com and third largest global internet company by revenue now has plans to expand into the European region according to a new report from Reuters citing JD Ceo Richard Liu’s statement to a German newspaper.
German newspaper The Handelsblatt Daily reported of the CEO stating JD’s plan to open an office in Germany by the end of this year which will mark the company’s foray into the European space as part of its global expansion beyond its main Chinese region.
JD’s moves to expand beyond the Chinese and South East Asian region has been noticed in recent times with JD just last month inking a partnership with Google as part of both companies efforts to grow beyond its main bases which also saw Google take a strategic $550 million stake in the company.
“For me it’s no longer just about selling products from Germany in China. I would also like to sell products in Europe,” Liu told the paper. “We have just got to clarify the details.” as quoted by Reuters indicating the company which had revenues of $55.7 Billion last year looking to grasp major operations in foreign markets.
The Handelsblatt Daily also states that JD might be looking to several acquisitions to boost its entry into the European market which stands as a very likely action for JD to grasp more market share in Europe.
JD has since been expanding its various units including its logistics and finance platforms with JD Finance raising $2 Billion roughly two weeks ago from 3 major Chinese conglomerates.
