China's JD.com injects $100m into brick-and-mortar retailer Gome

Deal with appliance chain sets up rival to Alibaba-Suning alliance

20200529N Gome storefront REUTERS

Gome Retail Holdings operates 2,600 outlets across China. © Reuters

SHIN WATANABE, Nikkei staff writer

DALIAN, China -- JD.com will spend $100 million to back appliance store operator Gome Retail Holdings, a move that will expand the brick-and-mortar presence of China's second-largest etailer.

The recently announced strategic tie-up has JD.com purchasing convertible bonds that could translate to a 2.8% stake in Gome. The date of the transfer has yet to be set.

Sponsored Content

About Sponsored ContentThis content was commissioned by Nikkei's Global Business Bureau.