JD.Com Inc (ADR) (NASDAQ:JD), China’s largest online direct sales company, announced today it will be the first authorized seller of Taylor Swift merchandise in China. The new JD.com store will be the official online source of Taylor Swift items featuring select, high-quality goods, including a new fashion line the music superstar designed specifically for the Chinese market.
Ms. Swift announced the news in a video released today.
“JD.com is delighted to become the sole online source of authentic, high-quality Taylor Swift merchandise,” said Richard Liu, JD.comfounder and CEO. “She is an enormously popular artist and true global cultural icon who is winning over thousands of new fans inChina each day. It is gratifying to be recognized as China’s online shopping platform of choice for those who value authenticity and quality.”
“JD.com is simply the one and only e-commerce site where shoppers in China can be assured they will get only authentic Taylor Swiftproducts that meet the high quality standards her fans deserve,” said Mark McDonald, Chairman of Heritage66 Company, Taylor Swift’s Nashville-based partner company that will host her products on JD.com. “We are excited to unveil a Taylor Swift Fashion line exclusively on JD.com later this summer.”
Clothing from the new Taylor Swift fashion line will include high-quality dresses, sweatshirts and tops and will be available next month on JD.com. The line was designed exclusively for the Chinese market with local consumers in mind, and will only be available for sale in China and on JD.com. The styles were created by Taylor Swift in partnership with Heritage66 Company, which represents American artists seeking to expand their reach in China.
Taylor Swift is the only artist in history to have three albums sell over one million copies in their first week of release (2010’s Speak Now, 2012’s RED and 2014’s 1989). She is the all-time leader on RIAA’s digital singles chart, the only artist to have two singles hit No. 1 on Billboards HOT 100 Chart in 2014 and 1989 is the highest selling album of 2014 and 2015 to date, selling almost eight million albums worldwide.
Taylor Swift will bring her 1989 World Tour Concert November 10-12 to Shanghai. (Original Source)
Shares of JD.com Inc closed last Friday at $35.32. JD has a 1-year high of $38 and a 1-year low of $21.78. The stock’s 50-day moving average is $34.36 and its 200-day moving average is $30.69.
On the ratings front, JD.com has been the subject of a number of recent research reports. In a report issued on May 11, Suntrust Robinson Humphrey analyst Robert Peck maintained a Buy rating on JD, with a price target of $37, which represents a slight upside potential from current levels. Separately, on the same day, Brean Murray Carret’s Fawne Jiang reiterated a Buy rating on the stock and has a price target of $37.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Robert Peck and Fawne Jiang have a total average return of 13.7% and 1.8% respectively. Peck has a success rate of 64.0% and is ranked #250 out of 3712 analysts, while Jiang has a success rate of 42.1% and is ranked #1797.
In total, one research analyst has assigned a Hold rating and 4 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $39.50 which is 11.8% above where the stock closed last Friday.
JD.com Inc is an online direct sales company in China. The Company acquires products from suppliers and sell them directly to its customers through its website and mobile applications.