JD.com to sell £2bn of UK products to Chinese consumers
JD.com, one of China’s largest online marketplaces, has pledged to help British brands enter the important Chinese market following increasing demand for British products from Chinese consumers.
The online retailer on Thursday signed an agreement with the British Government’s Department of International Trade, and committed to selling £2 billion of UK goods to Chinese consumers over the next three years.
British couture, fashion, beauty products, chocolate and tea will benefit from the agreement, in addition to thousands of other product categories as companies are given access to sell via JD.
“Many British brands recognise the huge potential of China’s enormous e-commerce market,” said Richard Burn, Director-General of DIT China. “JD truly understands what Chinese consumers want and has the resources to help British brands ensure success in the region. We’re looking forward to working with JD to bring more British brands to China in the future.”
The agreement was celebrated with a meeting held between JD Chairman and CEO Richard Liu and Prime Minister Theresa May, who is on her first official state visit to China, at the Residence of the British Ambassador to China.
According to JD.com, the number of UK brands selling on its site has doubled over the last two years, with sales in 2017 growing 100% compared to the previous year. Footwear brand Clarks is among the most popular with JD consumers, it said.
The e-tailer will further promote British brands by launching special campaigns for seasonal products and will roll out promotional activities such as a 24-hour “Celebrate Britain” sales event in April.
JD also has a strategic partnership with Farfetch, the leading global e-commerce platform for the fashion industry, to introduce more international niche brands to Chinese consumers, and has previously teamed up with the BFC/Vogue Designer Fashion Fund.
JD.com has more than 266 million customers, and acts as an important gateway for international brands looking to enter the Chinese market.
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