Supply chain specialist Li & Fung partners with JD.com to accelerate supply chain digitisation. With an aim to further develop its digital supply chain, Li & Fung has announced a strategic investment of $100 million from Chinese online retailer, JD.com.
Li & Fung will also grow its business in China by partnering with JD.com on private label initiatives for the China domestic market by leveraging its global network and digital supply chain. With the strong partnership between the Fung Family and Singapore-headquartered GLP Pte Ltd., and now the addition of JD.com, Li & Fung will be able to leverage its scale and digital capabilities to continue its journey of creating the end-to-end digital supply chain.
“Our goal to create the supply chain of the future and to improve the lives of one billion people in our global supply chain remains more relevant than ever in this turbulent world. The partnership with GLP and the addition of JD will be instrumental in further strengthening Li & Fung,” said Spencer Fung, CEO, Li & Fung.
Amidst continuing digital disruption to retail and the ongoing global trade tensions, compounded by the dramatic impact of COVID-19, the global retail supply chain has become more and more complex. As such, the time seems right as Li & Fung partners with JD.com to accelerate supply chain digitisation.
On its part, JD.com is transforming to become one of the leading supply chain-based technology and service providers, which fits well with Li & Fung’s goal of creating the supply chain of the future. JD.com has been developing proprietary supply chain technologies for many years and has created digital retail and supply chain platforms that are fully integrated to support its omnichannel strategies.