Advertise with fastmoving.co.za
 
 

China’s largest retailer JD.com has launched a $550 million (£414 million) partnership with Google.
China’s largest retailer JD.com has launched a $550 million (£414 million) partnership with Google.

Google buys £414m stake in JD.com

INTERNATIONAL NEWS

By Ben Stevens - Jun 22nd, 11:19

China’s largest retailer JD.com has launched a $550 million (£414 million) partnership with Google which will see the former sell products through Google Shipping across the world. 

Under the new partnership, the pair will pool their monumental technological resources to develop the “next generation” of retail solutions.

“We are excited to partner with JD.com and explore new solutions for retail ecosystems around the world to enable helpful, personalized and frictionless shopping experiences that give consumers the power to shop wherever and however they want,” Google chief business officer Philipp Schindler said.

The joint initiative will also see JD.com offer a curated selection of products available through the Google Shopping platform across “multiple regions”.

JD.com’s chief strategy officer Jianwen Liao added: “This marks an important step in the process of modernizing global retail. As we celebrate our June 18 anniversary sale, this partnership opens a new chapter in our history.”

Google received 27,106,948 newly issued shares in the Chinese retail giant for its £414 million contribution, at an issue price of $20.29 (£15.31) per share.

This comes just months after JD.com pledged its support to British businesses, announcing it will commit to selling £2 billion of goods from the UK to its Chinese consumers.

Over the next two to three years the online retail giant, which serves over one billion customers across China, will work with the Department of International Trade (DIT) to make it easier for UK companies to sell on its site.
Retail Gazette 

Read more about: retailer | retail | jd.com | google shopping | google

Related News

Four ways mobile can unlock innovation in brick and mortar retail
17/07/2018 - 11:29
With the ubiquity of smartphones – particularly in the South African marketplace – local retailers have a great opportunity to boost in-store engagement.

Amazon rivals Walmart and Microsoft join forces in cloud partnership
17/07/2018 - 11:05
Retail giant Walmart said it entered into a strategic partnership with Microsoft for wider use of cloud and artificial intelligence technology, in a sign of major rivals of Amazon.com coming together.

Michelangelo Wine & Spirits Awards Joins Forces with Checkers to offer Consumers an award-winning Choice
17/07/2018 - 10:41
One of Southern Africa’s leading drinks competitions, the Michelangelo International Wine and Spirits Awards, has entered into a partnership with Checkers which will give consumers greater access to the competition’s award-winning wines and spirits. The agreement will see Checkers offering a selection of Michelangelo winners in its general retail outlets and liquor stores after this year’s awards ceremony, which is to be held on 29 September.

DHL partners with MallforAfrica to deliver African-made products to the world
17/07/2018 - 09:30
DHL, the world’s leading international express services provider, today announced its partnership with e-commerce giant, MallforAfrica’s new platform, Marketplace Africa, to help online retailers bring African-made products to the US and global market.

Tills chime for Pick n Pay’s Zim stores as retail, hoteling income grow
16/07/2018 - 10:47
Pick n Pay is raking in the profits from Zimbabwe and its partner in the struggling country is now looking to open more stores buoyed by stronger performance from its other operations across city and resort hotels as well as agro-processing.