Chinese retail giant lands in UK with new Joybuy business
Chinese online retail giant JD.com is launching in the UK through its new Joybuy platform, as it seeks to target bargain-hunting British shoppers.
The £30 billion ecommerce firm is launching the shopping platform on Monday, as it seeks to challenge major rivals including Amazon in the UK.
The move comes after US and Hong-Kong listed JD.com pulled out of talks for two separate deals to buy major UK retail brands over the past two years.
In 2024, the group abandoned plans for a possible deal to buy Currys, and last September it walked away from talks over a potential takeover of Argos from Sainsbury’s.
The group is now going to challenge both retail brands, among many others, with its launch.
China’s largest retailer will offer products across technology, appliances, beauty, home, groceries and other essentials, including clothing.
It said it will also offer next-day delivery to about 17 million households across the UK from its launch after establishing its own logistics operations.
The group will run distribution sites from Milton Keynes and Luton to help deliver significant scope from the start of its operations in the UK.
Bosses said the business plans to establish itself in the UK for “a long time” and believes a combination of its product range, value and convenience will entice new customers.
Matthew Nobbs, Managing Director of Joybuy UK, said the firm was “confident” about its growth prospects in the country.
“We are here for a long time, as our CEO has said,” he added.
“We have spent a lot of time working and honing to get our web and app proposition right, making it work in beta testing over the time.
“We have to make sure the customer experience is really great.”
The company is simultaneously launching into six new European markets, which include Germany, the Netherlands, France, Belgium and Luxembourg.
The business struck a €;2.2 billion (£1.9 billion) deal to snap up Germany-based electronics retail group Ceconomy last year.
