DALIAN, China -- JD.com, China's second-biggest online retailer, announced on Thursday that it will spend 1.27 billion yuan ($189 million) to acquire a 46% stake in compatriot Jiangsu Five Star Appliance, a major electronics retailer.
The move comes amid rising competition in the Chinese online retail space. JD.com hopes to lure customers to its online shopping site via brick-and-mortar stores operated by Five Star Appliance.
