Chinese e‑commerce giant JD.com has launched its Joybuy online marketplace in the UK, Germany, France, the Netherlands, Belgium and Luxembourg, reports Reuters. The move sees the company stepping up its push beyond its home market and taking aim at market leader Amazon.
JD.com wants to internationalize its business and last year agreed to buy German electronics retailer Ceconomy, owner of the MediaMarkt and Saturn brands, for 2.52 billion.
The launch comes as Chinese retailers and brands have been expanding abroad in the US and Europe, looking for new growth drivers away from the cut-throat competition and weak consumer demand they face at home. Joybuy’s website and app will sell products across technology, appliances, beauty, homeware, and grocery.