JD.com to enter Thailand as regional base

Source:Agencies Published: 2017/6/11 23:08:39

China's second-largest e-commerce company, JD.com, plans to invest in Thailand by the end of this year, expanding its overseas business beyond Indonesia, Reuters reported on Friday.

Founder and CEO Richard Liu declined to say how much the company will invest in Thailand.

The Chinese online retailer plans to take advantage of Thailand as a hub to provide services for other Southeast Asian countries such as Vietnam and Malaysia, according to the report.

"Thailand will come soon … We will invest a lot and also find the best local partners to work together with. Anyone is be possible, but not Lazada," Liu said, referring to the fact that the Southeast Asian online retailer is controlled by Alibaba Group Holding, China's largest e-commerce firm and JD.com's main rival, the Wall Street Journal said Friday.

According to an Analysys report in May, Alibaba's Tmall platform, ranked top in China's online retail business-to-customer market by holding a 55.8 percent stake in the first quarter, while JD.com came  second with market share of 26.7 percent.

Posted in: COMPANIES

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