Sep 2, 2021|
JD Worldwide to Explore Multi-Retail Model with Lagardère Travel Retail
by Hui Zhang
JD Worldwide, the import platform of JD.com, is expecting to explore in-depth cooperation in both online and offline, cross-border and duty-free business with Lagardère Travel Retail in the near future, after Lagardère Travel Retail announced obtaining investment from JD.com on Sept. 1.
According to the announcement, Lagardère Travel Retail and JD.com will cooperate in areas including omni-channel retail, smart supply chain, logistics and data analysis.
Through the cooperation, JD Worldwide will take advantage of Lagardère’s great network of international brand partners to seek more cooperation while assisting these brands to expand Chinese markets relying on its platform advantages. Lagardère’s years of physical retail experiences will also benefit JD Worldwide in its offline duty-free business.
Established in April 2015, JD Worldwide has become a trusted platform for customers to shop for imported products online and offline, offering over 10 million SKUs (stock keeping units) of imported products from 20,000 brands and 100 countries, covering categories including maternal and baby, fashion, beauty, electronics, food, health supplements and more.
Since November 2019, JD Worldwide upgraded its business from a cross-border platform to a comprehensive imported products platform, including cross-border business and general trade business, which now includes duty-free business.
Last year, JD Worldwide made a big move to enter the duty-free business by opening a store through partnering with Hainan Tourism and Investment Development Co. The decision echoes preferential policies initiated as part of China’s plan to build a high-quality free trade port in the province. According to the plan, Hainan will establish a basic free- trade-port policy system with a key focus on helping free trade and investment by 2025.
“Our strategic cooperation with Lagardère Travel Retail can enhance our respective strengths and bring mutual benefits, allowing us to explore more opportunities in the travel retail sector,” said Simon Han, Vice President of JD.com supervising JD Worldwide. “At the same time, we will join hands to develop a comprehensive cooperation that will create richer shopping choices and a better experience for customers.”