JD.com seeks to lead Europe's online electronics retail with Ceconomy deal
JD•JD•JD•JD•JD.com closed its $2.5 billion acquisition of Germany's Ceconomy on Thursday, aiming to become Europe's leading online electronics retail platform. Ceconomy plans to offer next-day delivery across Europe, 90-minute delivery and 30-minute in-store pickup.
JD.com will use its acquisition of Germany's Ceconomy to expand beyond China and build an online retail platform for electronics in Europe, JD Worldwide head Jack Li said. The $2.5 billion deal closed on Thursday and gives JD access to Ceconomy-owned retailers MediaMarkt and Saturn.
Ceconomy CEO Remko Rijnders said the company aims to offer next-day delivery across Europe, 90-minute delivery via Uber and 30-minute in-store pickup. Customers using JD.com's European online platform, Joybuy, would be able to use MediaMarkt and Saturn's more than 1,000 branches in eleven European countries. JD plans to expand its regional logistics network, which currently has more than 60 centres, and Rijnders and his team will continue running the business.
