Chinese B2C e-commerce website JD.com and South Korean retail giant Lotte.com have signed a strategic cooperation agreement and an exclusive agreement under which JD.com will become the sole strategic partner of Lotte.com in the Chinese mainland for five years.
JD said that with the strategic cooperation agreement, Lotte Group's products and services will enter the Chinese market via JD's global shopping platform. In the future, the two parties will implement cooperation in tourism and service O2O.
Global strategy is currently an important reason for Chinese e-commerce providers to team with international retailers. Lotte.com is responsible for the online sales of products and services of all subsidiaries of Lotte Group. Lotte.com will integrate Lotte Group's branches to establish a "Lotte hall" on JD.com, covering Lotte Department Store, Lotte Mart, Hi-Mart, Lotte Duty Free, Lotte Hotel, and Lotte World.
The "Lotte hall" will not only sell infant products, cosmetics, and fashion products, but also will offer household products and home appliances. Over the next three years, the two parties aim to expand their cooperation range to about 200,000 kinds of products.