JD.com launches Joybuy marketplace in Europe, targeting UK, Germany, France, Netherlands, Belgium, and Luxembourg to compete with Amazon.
Chinese e-commerce giant JD.com has rolled out its Joybuy online marketplace in six European countries, reported Reuters. The launch targets the UK, Germany, France, the Netherlands, Belgium, and Luxembourg, stepping up competition with Amazon.
JD.com stated that this move is part of its strategy to internationalize operations. Last year, the company agreed to acquire German electronics retailer Ceconomy, owner of the MediaMarkt and Saturn brands, for 2.52 billion.
The expansion comes as Chinese retailers seek growth abroad amid weak consumer demand and intense competition at home. Joybuy's website and app will offer products across technology, appliances, beauty, homeware, and grocery.
