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JD.com Invests RMB 4.3bn in Yonghui Supermarket Chain
On August 8, online retailer JD.com acquired ten percent of the share capital of Yonghui Supermarket for approximately RMB 4.3 billion when the two sides signed a strategic cooperation framework agreement. JD.com and Yonghui announced that they will establish a joint procurement mechanism, begin online-to-offline (O2O) commerce, and cooperate in the exploration of retail financial services.
Yonghui stated that this investment would be used mainly for the expansion of supermarket chain stores, distribution centers and fresh cold-chain logistics system construction and other projects.
JD.com CFO Huang Xuande said their key development in the O2O field is fresh produce. Through the mobile app "JD to Home," they will connect nearby supermarkets with consumers to deliver fresh produce directly to users at home.
In May of this year, JD.com made a major investment by offering FruitDay, an online provider of fresh fruit. With FruitDay, JD.com began a deep degree of cooperation in the area of fresh fruit, and development in the enormous market for fresh produce.
JD.com said that with the Yonghui strategic alliance, the two sides can explore joint procurement, integrated supply chain management capabilities, and O2O business models. JD.com's strategic stake in supermarket enterprises, Yonghui, will strengthen its fresh produce business.
Image Source: Yonghui
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