One of the largest Chinese online retailers JD.com enters the Russian market. The cooperation agreement was signed with the Russian express delivery operator SPSR Express.
The Chinese Internet retailer intends to begin work in the Russian market by the end of 2015. According to Victor Schyu, Director General of JD.com International Development Division, the company intends to occupy 20% of the Russian e-commerce market with a turnover of $ 10 billion over 5 years.
JD.com is the second largest online retailer with a turnover of $ 69,3 billion. The only company behind is Amazon, whose turnover in 2014 amounted to $ 89 billion.
JD.com currently supplies to Russia, but in very small quantities. In the framework of cooperation with SPSR Express, it is planned to significantly increase the number of orders and the method of their delivery. An operating model in the Russian market has not yet been determined. Depending on this, the size of financial injections will range from tens to hundreds of millions of dollars. At the same time, investments will be attracted from both sides.