JD.com considers retreating from major markets in Southeast Asia – report

 

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Chinese e-commerce giant JD.com is considering a retreat from major markets in Southeast Asia in a move to sharpens its focus on cutting losses in the region and bolstering operations in its home market, reported SCMP.

The company intends to pull back from its businesses in Indonesia and Thailand, where sales growth has been a challenge for several years, the report said.

JD has been looking for an investor to take over its interest in JD.ID, a joint venture formed in 2015 with Singapore-headquartered private equity firm Provident Capital Partners, according to the report.

It’s also working to exit from Thai joint venture JD Central, which was formed in 2017 with Bankok-based retail and property development conglomerate Central Group, it said.