JD.com news and archive

Gucci launches official store on JD.com

Italian fashion house Gucci has announced a digital partnership with Chinese e-commerce retailer JD.com to boost its presence in the region. As part of the partnership, Gucci has launched an official digital flagship store on JD.com, marking the first time the Italian luxury brand has been accessible on the platform as it looks to enhance its...

People

JD.com promotes finance chief to CEO

Chinese e-commerce giant JD.com has promoted finance chief Sandy Ran Xu to CEO as Lei Xu steps down “due to personal reasons”. The company said Xu Lei will immediately begin the process of handing the CEO role over to Xu Ran, “leaving ample time for a seamless transition before his retirement in June”. He has been at the business for over a...

Business

China's JD to spin off two units, list in Hong Kong

Beijing - E-commerce giant JD.com will spin off its industrial and property units and take both of them public, the company said, in the latest reorganisation of a major Chinese tech firm. One of China's largest retailers, JD.com's fortunes were hit hard by heightened scrutiny of big tech by the state as well as a Covid-induced sales slump in...

JD.com reports record FY revenue, swings to profit

Chinese e-commerce giant JD.com has reported record revenue in its most recent full-year results following strong growth in the final quarter of the year. Net revenue for the 12 months to December 31 was up 9.9 percent to 1,046.2 billion Chinese Yuan (151.7 billion dollars), with net service revenue rising 33.3 percent to 181.2 billion Chinese...

JD.com swings to profit, net revenues increase by 11.4 percent

JD.com, Inc. net revenues for the third quarter of 2022 were 243.5 billion Chinese yuan (134.2 billion dollars), an increase of 11.4 percent from the third quarter of 2021. Net service revenues for the quarter were 46.5 billion Chinese yuan (6.5 billion dollars), an increase of 42.2 percent. The company said, income from operations was 8.7...

Business

Alibaba and JD.com keep Singles Day sales under wraps for first time

Chinese e-commerce giants Alibaba and JD.com have opted to not release any sales numbers for their annual Singles Day, possibly hinting that macroeconomic headwinds could be hitting the region and its businesses. While Alibaba said the results had delivered in line with last year’s GMV performance despite the macro challenges, JD.com said this...

Business

JD.com appoints Carol Yun Yau Li as independent director

JD.com, Inc. has appointed Carol Yun Yau Li as an independent director on the board of directors of the company and a member of the board’s compensation committee, effective immediately. Li, the company said, is a managing director of Yale Center Beijing, Yale University’s first university-wide center outside of the United States. Li has also...

Business

JD.com posts revenue and profit growth

JD.com net revenues for the second quarter were 267.6 billion Chinese yuan (140 billion dollars), an increase of 5.4 percent from the second quarter of 2021. Net service revenues were 41.6 billion Chinese yuan (6.2 billion dollars), an increase of 21.9 percent. “JD.com's resilient business model, industry-leading supply chain capabilities and...

Business

JD.com's Q1 revenues increase by 18 percent

JD.com, Inc. net revenues for the first quarter of 2022 were 239.7 billion Chinese yuan (137.8 billion dollars), an increase of 18 percent from the first quarter of 2021. Net service revenues for the quarter were 35.2 billion Chinese yuan (5.6 billion dollars), an increase of 26.3 percent from the first quarter of 2021. “JD.com’s robust supply...

Business

JD.com names Lei Xu as the company's new CEO

JD.com, Inc. has announced the appointment of Lei Xu, president of JD.com, as the CEO of the company succeeding Richard Liu. Lei Xu, the company said, will also join the board as an executive director. Richard Liu will remain as the chairman of the board and continue to focus on guiding the long-term strategies, mentoring younger management, and...

Business

MyTheresa debuts on JD.com hinting at China expansion

German e-commerce retailer MyTheresa has made its debut on Chinese marketplace JD.com, as it sets its sights on growing its presence in the region. Through a dedicated flagship store, shoppers will now have access to the retailer’s extensive luxury brand offering, which includes the likes of Ganni, Isabel Marant and Jimmy Choo. The e-boutique...

Business

JD.com Q4 net revenues increase 23 percent

JD.com, Inc. net revenues for the fourth quarter of 2021 were 275.9 billion Chinese yuan (143.3 billion dollars), an increase of 23 percent from the fourth quarter of 2020. Net revenues for the full year were 951.6 billion Chinese yuan (149.3 billion dollars), an increase of 27.6 percent from the full year of 2020. “JD.com maintained a healthy...