JD.Com Inc(ADR) (NASDAQ:JD), China’s largest ecommerce company by revenue, today announced partnerships with several of Japan’s leading home and kitchenware brands to tap into fast-growing demand from Chinese consumers for premium Japanese-made homeware and home appliances. Japanese brands including Tiger, Pearl Life and Nishikawa Sangyo are working with JD.com to sell their products directly to Chinese consumers.
The partnerships were launched at an event in Tokyo co-hosted with the Japan External Trade Organization (JETRO), a government-affiliated organization that promotes mutual trade and investment between Japan and the rest of the world.
“We’ve seen that Chinese visitors to Japan increasingly use their trips as opportunities to buy Japanese homeware brands, which are renowned in China for their quality and reliability,” said Zhou Xinyuan, general manager of JD.com’s Home Décor Department. “Now, by partnering with us, these top Japanese homeware brands are able to reach beyond the tourist market and sell directly to a much larger pool of consumers in China. We provide immediate access to JD.com’s approximately 170 million active and upwardly mobile customers, a massive base of potential consumers, who are increasingly focused on buying premium products.”
“This partnership with JD.com is a tremendous opportunity for us to substantially expand our potential base of high-quality consumers,” said Takanami Hisao, President of Pearl Life Group. “JD.com’s platform is particularly attractive because it offers an end-to-end solution that makes it quick and easy for us to get our products into the hands of Chinese consumers. JD.com is also committed to providing consumers with only the highest-quality, guaranteed-authentic products, which is a crucial differentiator for us.”
In addition, JD.com announced that the trade promotion association of Tsubame-Sanjo City will work with JD.com to facilitate leading brands from the city’s renowned tableware industry to sell on JD.com.
JD.com is already the ecommerce partner of choice in China for many of Japan’s most popular brands, including TOTO, Panasonic,Zojirushi and Thermos. In June 2015, the company launched a “Japanese Mall” to provide Japanese brands and retailers easier access to the Chinese ecommerce market. (Original Source)
Shares of JD.com Inc closed yesterday at $22.42, up $0.28 or 1.26%. JD has a 1-year high of $35.56 and a 1-year low of $19.51. The stock’s 50-day moving average is $21.48 and its 200-day moving average is $24.85.
On the ratings front, JD has been the subject of a number of recent research reports. In a report released yesterday, Brean Murray Carret analyst Fawne Jiang reiterated a Buy rating on JD. Separately, on June 22, Nomura’s Jialong Shi reiterated a Buy rating on the stock and has a price target of $35.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Fawne Jiang and Jialong Shi have a total average return of 3.0% and 4.1% respectively. Jiang has a success rate of 47.1% and is ranked #924 out of 4057 analysts, while Shi has a success rate of 60.0% and is ranked #1663.
The street is mostly Bullish on JD stock. Out of 7 analysts who cover the stock, 6 suggest a Buy rating and one recommends to Hold the stock. The 12-month average price target assigned to the stock is $34.00, which implies an upside of 51.7% from current levels.
JD.com, Inc. is engaged in the sale of electronics products and general merchandise products, including audio, video products and books. It also offers online sales of home appliances, digital communications, computers, home merchandise, apparel, baby book, food, and others.