May 7, 2020|
LG Electronics to sell RMB 5 Billion Yuan Products on JD.com
by Rachel Liu
LG Electronics has signed a partnership with JD.com to sell RMB 5 Billion yuan worth of products on the e-commerce platform. LG will also invest in JD Home Appliance Stores and set up over 1,000 whole-house appliance demonstration stores, creating smart offline retail platforms in lower-tier markets.
This strategic cooperation is the largest agreement that LG Electronics has signed with Chinese retail platforms. LG refrigerators and washing machines are consistently welcomed by JD customers. During COVID-19, sales of LG’s steam sterilization washing machines increased 50% compared with the previous period.
LG Electronics has long had deep cooperation with JD on OLED technology and products. In May 2019, JD worked with seven leading TV brands, including LG Electronics to form the OLED TV Alliance, to increase the popularity of OLED large screen TVs. In 2019, sales of high-end OLED TVs on JD increased 231% y-o-y.
LG Electronics has worked deeply with JD on C2M for small home appliances. In May 2018, the two sides started to develop C2M air purifiers, beauty tools, hand-held vacuum cleaners and clothing care machine based on JD’s big data. COVID-19 has made health-related home appliances more popular. LG Electronics’ mini air purifier became a star product. The brand will also start selling a new vacuum cleaner on JD this month.