China: JD.com partners with Li & Fung in building a global digital Private Label supply chain
JD.com, China’s leading technology driven e-commerce company transforming to become a leading supply chain-based technology and service provider, today announced a strategic investment in Li & Fung, a giant in global supply chain solutions, based in Hong Kong.
JD and Li & Fung will develop in-depth strategic cooperation in digital supply chain and private label, among other areas, by leveraging their respective strategic capabilities and resources. This partnership is one of the important initiatives in JD’s digital supply chain. Li & Fung is a leader in global supply chain with expertise in international trade and private label, while JD has developed unique capabilities in digital technologies as well as retail infrastructure. The JD-Li & Fung partnership is especially salient in today’s business environment under which global supply chain is undergoing restructuring with the impact of the COVID-19 pandemic.
JD.com is a leading technology driven e-commerce company transforming to become a leading supply chain-based technology and service provider. The Company’s cutting-edge retail infrastructure seeks to enable consumers to buy whatever they want, whenever and wherever they want it. The Company has opened its technology and infrastructure to partners, brands and other sectors, as part of its Retail as a Service offering to help drive productivity and innovation across a range of industries. JD.com is the largest retailer in China, a member of the NASDAQ100 and a Fortune Global 500 company.
About Li & Fung
Li & Fung, founded in 1906, is recognized as the world’s leader in consumer goods design, development, sourcing and logistics. It specializes in responsibly managing supply chains of high-volume, time-sensitive goods for leading (discount) retailers and brands worldwide. With nearly 17,000 employees, Li & Fung operates over 230 offices in more than 40 different markets, and achieved a revenue of USD 11.4 Billion in 2019. The Group is focused on building the supply chain of the future and accelerating the speed in the supply chain through the development of its digital platform.