China launches £30bn megastore in UK to rival Amazon and Argos | UK | News
China’s biggest retailer has launched in the UK to compete with rivals such as Amazon and Argos. Megastore JD.com, a £30 billion e-commerce giant, will sell a range of products including technology, beauty, home, food and other essentials. Brits will be able to buy from JD.com via the new Joybuy platform, which launches today. Its platform will also include private brand stores such as L’Oreal (OREP.PA), opens in new tab Braun, DeLonghi, BRITA and Bodum.
The move comes after the US- and Hong Kong-listed company pulled out of talks for two separate deals to acquire leading UK retail brands Currys and Argos in the last two years.
The platform’s bosses believe that the combination of a wide range of products, convenience and “competitive” prices will attract new customers. According to Joybuy UK managing director Matthew Nobbs, the key selling point will be the platform’s fast delivery to customers in major cities.
The group will operate distribution facilities in Milton Keynes and Luton to help provide significant coverage from the start of its UK operations. The retailer said deliveries would be available next day to around 17 million households in the UK.
Orders placed before 11:00 must arrive the same day, while orders placed before 23:00 must arrive the next day.
Joybuy UK managing director Matthew Nobbs said the firm was “confident” about its growth prospects in the country.
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He said: “As our Chairman said, we have been here for a long time.
“We have to make sure the customer experience is truly great.”
The company is expanding into six new European markets, including Germany, the Netherlands, France, Belgium and Luxembourg. The business struck a 2.2bn euro (£1.9bn) deal to buy Germany-based electronics retail group Ceconomy last year.
