In 2023, JD.com expressed interest in acquiring Ceconomy AG, the parent company of MediaMarkt and Saturn, although negotiations did not come to fruition. Now, in 2025, the Chinese eCommerce giant has officially completed the acquisition of Ceconomy for 2,5 billion dollars, marking its direct entry into the European market.
JD.com acquired 57.1% of Ceconomy at 4.60 euros per share, representing a 23% premium over the previous price, while the Kellerhals family, the former majority shareholder, retains 25.35% as a strategic partner.
This transaction not only consolidates JD.com’s presence in Europe, but will also enable the company to compete directly with Amazon and other major retailers in the region, leveraging the advanced logistical technology developed by the Chinese marketplace.
But what exactly is JD.com and how has it become one of the largest marketplaces in the world? In this article, we examine its history, features, business model, and competitors.
JD.com was founded in 1998 by Richard Liu as a physical store in Beijing specializing in magneto-optical products. However, in 2003, the SARS epidemic affected sales and compelled the company to shift to eCommerce. In 2004, it launched its online store, initiating rapid growth that transformed it into one of China’s leading B2C platforms.
Today, JD.com is the second-largest marketplace in China, second only to Alibaba, and is distinguished by operating with a hybrid business model that combines direct sales with a marketplace for third parties.
JD.com offers a wide variety of products, ranging from electronics and fashion to grocery items and luxury goods. Its main categories include electronics and technology (mobile phones, laptops, home appliances, and gadgets), fashion and accessories (clothing, footwear, and accessories), health and beauty (cosmetics, supplements, and personal care), supermarket (food, beverages, and household cleaning products), and automobiles and spare parts (from tires to vehicle accessories).
In addition, JD.com has positioned itself in the luxury sector through JD Luxury Express, an exclusive delivery service for premium products.
The marketplace directly manages a significant portion of its inventory. Rather than relying on third-party sellers, it stores and distributes products itself, which allows JD.com to guarantee authenticity and speed in deliveries. For third-party orders, JD.com operates a model in which sellers can list products on the platform; however, unlike Alibaba or Amazon, it maintains stricter control over quality and logistics. It also provides logistics services to other companies.
JD.com has a network of intelligent warehouses and distribution centers in China and other regions, offering same-day or next-day delivery in most Chinese cities. To enhance efficiency in both rural and urban areas, it utilizes drones and autonomous robots. There is no required minimum purchase, but shipping discounts are available for orders above certain amounts.
JD Worldwide is JD.com’s cross-border eCommerce platform, designed to enable international brands and retailers to sell products directly to Chinese consumers without requiring a physical presence in the country.
It includes payment methods tailored to each market, such as credit cards, PayPal, digital wallets, among others. Products can be shipped to various parts of the world, although delivery times and costs vary according to the seller’s location. Furthermore, the company is committed to offering authentic products, which distinguishes it from other marketplaces where counterfeiting can be an issue.
JD Worldwide offers three sales models:
JD.com has maintained solid growth in recent years. According to recent reports, its annual revenues exceeded $150 billion in 2023. The company has more than 580 million active users in China and operates in international markets such as Thailand, Indonesia, and Europe, with expansion plans in Latin America. Additionally, it owns more than 1,300 warehouses worldwide.
Its growth has been driven by a focus on artificial intelligence, automation, and efficient logistics.
Locally, its main competitors are Alibaba (owner of Tmall and Taobao) and Pinduoduo. Its strongest competitor outside of China, especially in American and European markets, is Amazon. Meanwhile, TikTok Shop is an increasingly significant threat in social commerce, particularly in Southeast Asia.
JD.com’s competitive advantage lies in its emphasis on quality control and proprietary logistics, which fosters greater trust among consumers.
With this acquisition, JD.com gains more than 1,000 physical stores in 11 European countries, employing 50,000 people, and generating 22,4 billion dollars in revenue in 2024, of which 5,100 million originated from online sales.
The company has pledged to maintain employment for three years, retain MediaMarkt’s headquarters in Düsseldorf, and introduce its state-of-the-art logistics technology to deliver:
This move signifies the moment when JD.com ceases to be solely a Chinese giant and transforms into a key player in European retail, combining the trust of a local brand like MediaMarkt with its advanced distribution technology.
Photo: JD.com
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