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Chinese retailer JD.com pledges to sell EUR2bn in French imports

RBR Staff Writer Published 10 January 2018

Chinese online retailer JD.com has unveiled plans to sell €2bn of French goods to Chinese consumers in the next two years.

The company has also pledged to buy another €100m in French industrial products.

The decision was announced after French President Emmanuel Macron met with JD.com CEO Richard Liu in China.

The French President is on his official state visit to the country and JD.com has signed the trade agreement with Business France, the country’s official trade promotion agency.

Macron’s meeting with Liu also included discussion about opportunities for more French brands to reach JD.com’s 266.3 million customer base.

JD.com and Business France will work together towards the target of €2bn in sales by the end of next year by building a one-stop solution for French brands and retailers to offer their products to Chinese consumers quickly and easily.

On the other hand, JD.com has also signed a memorandum of understanding (MOU) with French industrial engineering giant Fives Group to purchase €100m of the company’s technology.

The company was entrusted by the French Government to lead the ‘Industry of Future’ and ‘Made in China 2025’ plans. Its sorting technology will be used by JD.com warehouse in China.

JD.com is already an important channel for French products in China and sells from brands including L’Oreal, Clarins and Sephora.

Last year, the sale of fresh food from France on JD including oysters and cod, increased 640% compared to 2016. Also, JD.com is the largest retail channel in China for Château Lafite wines.

French brands can have access to JD.com’s supply chain and logistics capabilities, customers and marketing solutions.

JD will also educate and provide training programs for senior executives across France about Chinese e-commerce market and will offer express enrolment service for French companies to get them running on JD.com as quickly as possible.

Image: French President Emmanuel Macron with JD.com CEO Richard Liu. Photo: Courtesy of JD.com.