BRIEF: JD.com explores bid for Britain’s The Very Group

E-commerce giant JD.com Inc. (JD.US; 9618.HK) is exploring a bid to acquire British peer The Very Group for about 2 billion pounds ($2.7 billion) from private equity giant Carlyle, its current owner, Sky News reported on Friday. The move marks the latest pursuit of both online and offline retail assets in Europe by JD.com, as it seeks to expand beyond its core market in China.

An auction of The Very Group is set to begin soon, following the company’s acquisition by Carlyle several months ago as part of a reorganization process, according to Sky News. Very Group sells fashion, toys and electronics, and has annual revenue of more than 2 billion pounds. Before Carlyle acquired the site The Very Group was part of the Barclay family business empire, which originally purchased the business in 2002.

JD.com previously tried to buy British general merchandise retailer Argos from supermarket chain Sainsbury last year, but that deal later collapsed. Last year JD.com also launched a $2.5 billion bid for German electronics retailer Ceconomy, though that deal is still being reviewed by European regulators. The Chinese company also previously explored a bid for British electronics and appliance retailer Currys in 2024, but ultimately abandoned that effort.

JD.com’s New York-listed shares fell 3% on Friday to close at $30.52. The stock is up 6.3% so far this year.

By Doug Young

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