[{"_1":2,"_86":-5,"_87":-5},"loaderData",{"_3":4,"_6":7},"root",{"_5":-5},"user","routes/tag.$slug",{"_8":9,"_75":76,"_83":78,"_84":63,"_85":64},"posts",[10],{"_11":12,"_13":14,"_15":16,"_17":18,"_19":20,"_21":22,"_23":24,"_25":26,"_27":28,"_29":30,"_31":32,"_33":-5,"_34":35,"_36":37,"_47":48,"_68":69,"_70":71,"_72":73,"_74":32},"documentId","ocsukze4q69eghck1x47gpn4","title","JD.com Completes Acquisition of Chinese Electronics Retailer 5STAR to Improve Omnichannel Capabilities","slug","jd-com-completes-acquisition-of-chinese-electronics-retailer-5star-to-improve-omnichannel-capabilities","excerpt","Chinese second-largest e-commerce platform JD.com (JD) Monday announced the acquisition of the remaining 54% stake in compatriot home appliance store 5STAR. ","content","\n

Chinese second-largest e-commerce platform JD.com (JD) Monday announced the acquisition of the remaining 54% stake in compatriot home appliance store 5STAR, also known as Five Star. Combined with the previously acquired 46% of its equity, the new acquisition has made the Nanjing-based company a wholly-owned subsidiary of JD.

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Established in 1998 with annual sales over 18 billion yuan, 5STAR is China’s third-largest electronics retailer following Nanjing-based Suning and Beijing company GOME. 5STAR has over 700 stores across eight provinces and regions, with online stores focusing on third- and fourth-tier cities. It has a particularly large footprint in China’s eastern region, especially in Jiangsu, Zhejiang and Anhui provinces.

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5STAR used to be the Chinese partner of US online retailer Best Buy which purchased a majority interest in 5STAR in 2006. Best Buy in 2014 announced it had entered into a definitive agreement for the sale of its 5STAR business to Chinese investment group Jiayuan.

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The partnership between JD and 5STAR can be traced back to 2017 when the two companies started to connect the e-commerce platform with offline retail stores. Then in 2018, the two parties started to build Omni-channel Experience Stores in cities including Luoyang, Hangzhou, Wenzhou, Fuzhou and more. Meanwhile, traffic of 5STAR stores during the 618 mid-year shopping festival of that year increased nearly 30% compared with a year ago, and sales increased by over 50%.

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JD has invested in offline retail enterprises such as 5STAR, GOME, DIXINTONG, and Lecoo over the past year. It has also launched multiple offline ventures such as JD E-Space, JD Home Appliance Store, JD Computer and Digital Store, and JD Home.

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“The acquisition of the remaining shares of 5STAR will further optimize JD’s electronics and household appliances supply chain, and improve their omni-channel capabilities,” JD said in a press release on Monday. “In other words, JD hopes to create an offline JD.”

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JD agreed to acquire a 46% stake in 5STAR in April 2019. The e-commerce titan signed the agreement with 5STAR’s existing shareholder Jiayuanchuangsheng Group to purchase shares worth 1.27 billion yuan, with a combination of cash and assumption of the shareholder's debt, according to the SEC filing. JD also provided a 1.03-billion-yuan loan to Jiayuanchuangsheng, while the shareholder and 5STAR should give back JD certain collateral and investor rights.

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Tag: #offline JD

JD.com Completes Acquisition of Chinese Electronics Retailer 5STAR to Improve Omnichannel Capabilities