JD.com news and archive

JD.com commits to supporting Chinese exporters amid tariff uncertainty

E-commerce giant JD.com is set to launch a 200 billion yuan (20.57 billion pounds) fund to help support Chinese exporters as uncertainty over tariffs continues to weigh on the market. In a statement to Reuters, the Chinese firm said it would send its own employees to domestic companies associated with foreign trade to purchase their “...

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Chinese e-commerce giant JD.com notches Q3 revenue growth

Beijing - Chinese e-commerce giant JD.com announced accelerated third-quarter growth on Thursday, a positive sign for the firm as it grapples with lacklustre consumer spending and tough competition with its main competitor, Alibaba. Total revenue during the three-month period ended September 30 was 260.4 billion yuan (36 billion dollars), up 5.1...

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JD.com and BFC expand partnership, aim to elevate British and Asian designers

Chinese e-tailer JD.com has announced a new partnership with the British Fashion Council (BFC) that will see it become the official Asia online retail partner of London Fashion Week (LFW) September 2024, which kicked off September 12. Through the deal, the duo hope to enhance both the presence of British designers in the Chinese market while...

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Walmart sold its entire stake in JD.com

In a move that underscores the evolving landscape of global retail, Walmart has divested its entire stake in Chinese e-commerce giant JD.com for 3.6 billion dollars, as reported by the Financial Times this week. This strategic decision comes on the heels of Walmart's recent earnings report, where the company emphasised its commitment to...

Retail

JD.com partners with Inditex and launches Massimo Dutti store

E-commerce giant JD.com and China’s largest retailer has announced a strategic partnership with Spanish fashion retail group Inditex, home to brands including Zara, Massimo Dutti, and Oysho. The partnership launches with a new flagship store for fashion brand Massimo Dutti on JD.com's marketplace, as part of Inditex’s broader efforts to cater to...

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JD.com wins years-long lawsuit over monopoly practices against Alibaba

Chinese e-tailers Alibaba and JD.com can, for now, bury their hatchet. JD.com will receive one billion yuan (equivalent to 110.25 million pounds) from Alibaba as a years-long lawsuit comes to an end, Reuters reported. The e-tailers have been accusing each other of monopoly practices since 2017. According to the court, Tmall, Alibaba's brand...

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JD.com posts Q3 profit growth

JD.com net revenues for the third quarter were 247.7 billion Chinese yuan (134 billion dollars), an increase of 1.7 percent from the third quarter of 2022. The company’s income from operations rose to 9.3 billion Chinese yuan (1.3 billion dollars) and non-GAAP income from operations increased to 11.1 billion Chinese yuan (1.5 billion dollars). “...

Retail

Gucci launches official store on JD.com

Italian fashion house Gucci has announced a digital partnership with Chinese e-commerce retailer JD.com to boost its presence in the region. As part of the partnership, Gucci has launched an official digital flagship store on JD.com, marking the first time the Italian luxury brand has been accessible on the platform as it looks to enhance its...

People

JD.com promotes finance chief to CEO

Chinese e-commerce giant JD.com has promoted finance chief Sandy Ran Xu to CEO as Lei Xu steps down “due to personal reasons”. The company said Xu Lei will immediately begin the process of handing the CEO role over to Xu Ran, “leaving ample time for a seamless transition before his retirement in June”. He has been at the business for over a...

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China's JD to spin off two units, list in Hong Kong

Beijing - E-commerce giant JD.com will spin off its industrial and property units and take both of them public, the company said, in the latest reorganisation of a major Chinese tech firm. One of China's largest retailers, JD.com's fortunes were hit hard by heightened scrutiny of big tech by the state as well as a Covid-induced sales slump in...

JD.com reports record FY revenue, swings to profit

Chinese e-commerce giant JD.com has reported record revenue in its most recent full-year results following strong growth in the final quarter of the year. Net revenue for the 12 months to December 31 was up 9.9 percent to 1,046.2 billion Chinese Yuan (151.7 billion dollars), with net service revenue rising 33.3 percent to 181.2 billion Chinese...

JD.com swings to profit, net revenues increase by 11.4 percent

JD.com, Inc. net revenues for the third quarter of 2022 were 243.5 billion Chinese yuan (134.2 billion dollars), an increase of 11.4 percent from the third quarter of 2021. Net service revenues for the quarter were 46.5 billion Chinese yuan (6.5 billion dollars), an increase of 42.2 percent. The company said, income from operations was 8.7...