Chinese e-commerce stalwart JD.Com Inc. hopes to sell EUR2 billion (USD2.4 billion) worth of French products on its online marketplace over the next two years after striking a deal with an agency from the country.
The Beijing-based firm penned a deal with Business France, which supports international development of the nation’s economy, in the Chinese capital during French President Emmanuel Macron’s visit to China.
Under the partnership, JD.Com will look to ramp up sales of French items by the end of next year, and work more closely with companies from the country in logistics and technology, Yicai Global learned at the signing ceremony, at which Christophe Lecourtier, executive director of Business France, and Liu Qiangdong, chairman of JD.Com, were present.
JD.Com’s e-commerce site is a key avenue for Chinese consumers to buy French goods. Last year, sales of French products almost tripled on the firm’s international e-tail platform Quanqiugou, according to data from the company.
Business France will help small- to medium-sized enterprises in the country open stores on JD.Com’s e-commerce platform as part of the deal, and offer other services to French brands and retailers.
The Chinese firm will provide training to French brand managers to help them succeed online in China, offering fast track services to companies looking to open stores on its platform and rolling out a promotional campaign specifically for brands from the European country.
French industrial engineering giant Fives Group and JD.Com also penned a memorandum of understanding at the signing ceremony, under which the e-tailer will buy Fives’ parcel sorting technology for EUR100 million.
Source: yicaiglobal.com
