JD.com pulls out of Australia
JD.com has pulled out of Australia after just 15 months, but the online giant says it does not reflect performance in the region.
The Chinese online retail giant launched its Australian office in February last year to a notable fanfare, aiming to work more closely with the Australian and New Zealand brands selling on its platform, while encouraging more to join.
This came just months after its key Chinese rival Alibaba opened launched its first office in Melbourne.
Instead of flogging Chinese goods to Australian shoppers, JD.com aimed to help sellers from the region sell to the lucrative Chinese market.
Though a spokesperson denied it reflected its performance in Australia, adding that “Australia’s importance doesn’t change”, its withdrawal comes amid growing pressure to show its investors it can profitable.