JD.com commits to sell €2 billion in French imports
Chinese retail giant JD.com has unveiled plans to sell €2 billion worth of French goods to Chinese consumers over the next two years, and purchase another €100 million in French industrial products.
During French President Emmanuel Macron’s official state visit to China, JD.com has signed an agreement in Beijing with Business France, France’s official trade promotion agency. President Macron also met with JD.com chairman and chief executive Richard Liu to discuss opportunities for more French brands to reach JD’s 266.3 million customer base.
Separately, JD also signed an MOU with French industrial engineering giant Fives Group to purchase €100 million of Fives’ technology. Fives has been assigned by the French government to lead the “Industry of Future” and “Made in China 2025” plans, and the company’s advanced sorting technology will be used in JD’s automated “Asia No.1” warehouse network around China.
The agreements come as JD launches its ‘Celebrate France’ sales promotion for French goods on its ecommerce platform to showcase products from brands such as Château Lafite, Remy Martin, Evian, L’Oreal and Lacoste.
In 2017, sales of fresh food from France on JD.com, including oysters and cod, increased by 640% year-on-year. Sales of French brands on JD’s cross-border ecommerce platform, JD Worldwide, climbed by nearly 200% in the same period.
JD and Business France will work together to hit the target of €2 billion in sales by the end of 2019.
In addition, JD will offer education and training programmes about the Chinese ecommerce market to senior executives across France. It will provide a dedicated express enrolment service for French companies to get them up and running on JD.com as quickly as possible.
Future collaboration is expected to include logistics support on the ground in France to facilitate the transport of goods from France to JD’s customers in China.
Image courtesy JD.com
