THE FACT THAT? Chinese e-commerce company JD.com is reportedly considering a potential £2 billion bid for UK online retailer The Very Group as part of its continued expansion ambitions in the British retail market.
THE DETAILS According to reports from Sky News, JD.com is considering acquiring The Very Group, which is currently owned by private equity firm Carlyle. The retailer, known for its online fashion, home and beauty offering, reportedly went up for sale earlier this year following Carlyle’s acquisition of the Barclay family. The move would mark JD.com’s latest attempt to strengthen its UK retail presence after previously pursuing Currys and exploring talks to acquire Argos from Sainsbury’s. Neither JD.com nor The Very Group commented on the reports. The Very Group operates across the fashion, beauty, homewares and consumer goods categories and has established a strong digital retail presence in the UK market.
THE WHY? A potential acquisition would provide JD.com with greater access to the UK’s established e-commerce infrastructure, customer base and premium online retail categories, while intensifying competition in the UK digital retail and beauty sectors.
Fountain: Reuters
