JD.com planning to sell Russian goods into China


JD.comChinese e-commerce site JD.com is planning to begin selling Russian food, jewelry, cosmetics and other consumer goods from its western neighbour into China by the end of this year, its President Victor Xu said this week. “We are negotiating with a number of interested Russian companies and manufacturers,” Xu said. The company’s managers also met Russian officials to discuss Sino-Russian trade, according to Xu.
Russian billionaires Alisher Usmanov and Yuri Milner have an estimated 9% shareholding in the company and have invested around $780m in the last year. 
JD.com is following in the footsteps of Chinese e-commerce giant Alibaba Group, which is working with Russian retailer ABK network to sell Russian consumer goods, food products and cosmetics in China. Mark Zavadsky, Director of Business Development at AliExpress in Russia and the CIS, told Kommersant this week that there was a great demand for high-quality foreign products in China. “The Russian producers have the potential to occupy a niche between expensive European goods and cheap Chinese ones,” he said.

Source: rbth