Chinese ecommerce giant JD.com is reportedly eyeing a £2 billion bid for The Very Group, a British online shopping platform. This potential acquisition marks another attempt by JD.com to expand its presence in the UK market.
This move follows JD.com's earlier efforts in the UK, including a failed takeover attempt of electricals retailer Currys and the decision to withdraw from negotiations to acquire Argos from Sainsbury's last year.
Current Status: The Very Group has not commented on the report, and JD.com has yet to respond to inquiries regarding the bid.
In January, it was reported that Carlyle, the owner of The Very Group, was planning a sale of the company for £2 billion, shortly after taking control of the retailer.
Carlyle's acquisition of The Very Group last year ended the Barclay family's long-standing involvement with the business.
Key Takeaways
- JD.com is exploring a significant acquisition to strengthen its UK market position.
- The Very Group's ownership is relatively new, with Carlyle having taken control recently.
- This bid follows JD.com's previous unsuccessful attempts to acquire other UK retailers.
What to Expect
If the bid proceeds, it could reshape the competitive landscape of online retail in the UK, particularly in the fashion and home goods sectors where The Very Group operates.
