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JD and Central form US$500m JV

Chinese e-tailer JD is looking to boost its presence in Southeast Asia under a new joint venture with Thai retail Central Group

JD and Central form US$500m JV

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Thai retailer Central Group has entered into a US$500m joint venture (JV) with Chinese e-tailer

The JV will allow to expand its presence in Southeast Asia to counter competitors Amazon and Alibaba, while Central Group will gain access to’s technology and logistics services, moving a step closer to being Thailand’s leading e-tailer.

“Thailand’s large population and developed infrastructure, including strong national logistics networks, give it tremendous potential for both e-commerce and fintech services,” said Richard Liu,’s chairman and CEO. “Working with Thailand’s strongest retail conglomerate, with a massive shopping mall and department store network, gives us a huge competitive advantage as we expand further into Southeast Asia.”

Central Group will contribute US$250m to the JV, with the remaining US$250m coming from, its fintech subsidiary JD Finance and its strategic partner for its Indonesia e-commerce business Provident Capital.

The leading Thai retailer will continue to expand its omni-channel presence, opening several flagship stores on the platform.

“JD’s proven track record of successfully building out national online retail businesses made it the obvious choice to be our e-commerce partner,” said Tos Chirathivat CEO of Central Group. “Thailand’s mobile-driven population, with its increasing consumer spending power, means that e-commerce is ready to explode, and this partnership is poised to capture the country’s consumers as they migrate online. This move marks a key step in Central Group’s goal to become Thailand’s online retail leader.”

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