Chinese e-commerce firm JD.com has launched its first online shopping portal in Thailand as the company looks to expand its footprint in Southeast Asia, Caixin reports.
JD.com and rival Alibaba Group have rapidly expanded into Southeast Asia in recent years as growth begins to slow in China’s $519 billion business-to-consumer online shopping market. JD.com already has operations in Vietnam and Indonesia.
The new portal is run jointly by JD.com and Central Group, Thailand’s largest retailer, with which JD.com formed a joint venture called JD Central last year. The new company’s CEO has declared that it aims to become Thailand’s leading e-commerce player by 2020. But JD Central will need to overcome tough competition from Lazada, the online retail firm backed by Alibaba, and Shopee, which has investment from Tencent.