According to the agreement, half of the investment will come from Shangtai Group, and the rest will come from JD.COM Group, JD Finance and Provident Capital, the strategic partner of Indonesian e-commerce business of JD.COM Group.
JD.COM will provide professional skills support for e-commerce joint ventures, covering the fields of technology, e-commerce and logistics. The financial technology service joint venture company will acquire the leading technologies of JD Finance, such as artificial intelligence and cloud computing.
Shangtai Group will give full play to its huge advantages in retail resources, provide the two businesses with a network of physical stores that can provide omni-channel services and support for payment scenarios, rich brand relations and merchant resources, and the retail behavior insight brought by its popular membership plan "The 1 Card".
In addition, in order to enrich the types of e-commerce products and accelerate its omni-channel growth, Shangtai Group will open a number of flagship stores on the e-commerce platform, introduce its department stores and major retail chain stores, as well as its own or operated selected brands.
"Thailand's huge population and developed infrastructure, including a strong national logistics network, have brought great potential for e-commerce and financial technology services," said Liu, chairman and CEO of JD.COM Group. "The cooperation with Thailand's most powerful retail group and its huge network of shopping centers and department stores has provided us with a huge competitive advantage in further expanding the Southeast Asian market."
“JD。 Tos Chirathivat, CEO of Shangtai Group, said, "COM Group has made great achievements in e-commerce business in China, making it the best choice for our e-commerce partners. "With more and more mobile network users and more and more customers' spending power, e-commerce in Thailand is about to break out, and more people will turn to online consumption. The cooperation with JD.COM will accurately grasp this opportunity and help Shangtai Group achieve the goal of building a leading e-commerce in Thailand. "