JD.com-Central e-commerce joint venture launches officially in Thailand

JD Central CEO Vincent Yang. Photo: JD Central

JD Central, an e-commerce joint venture between China’s largest retailer JD.com and Thailand’s largest retail conglomerate Central Group, officially announced the launch of its operations in Thailand on Thursday.

The venture will help JD expand its footprint in Southeast Asia, following its establishment of an e-commerce platform in Indonesia and its strategic investment in Vietnam’s B2C e-commerce company Tiki, it said in a statement.

In September last year, Central Group and JD.com had announced two joint ventures for e-commerce and fintech with Provident Capital with an aggregate investment of up to $500 million. Under the agreement, half of the investment would come from Central Group and the remainder from JD.com, its finance arm JD Finance and Provident Capital.

“This move will transform the local market and unlock the boundless consumer potential of the nation’s large population, with the ultimate goal of becoming the most trusted brand in Thailand,” JD Central CEO Vincent Yang said.

JD Central opened its platform to the public on June 18 and offers both direct sales and marketplace models. It claims that it has received online orders 15 times higher than its initial target.

According to Thai media reports, it plans to have five warehouses within this year and launch an automated retail store in Bangkok next year.

Through its partnership with local delivery service providers, it will also offer same-day delivery in Bangkok and surrounding areas to serve 25 million prospective customers by 2019.

Yang said e-commerce in Thailand will represent 10 per cent of the total retail market in three years, increasing from 3-5 per cent currently.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.