(Yicai Global) Jan. 4 -- China's e-commerce giant JD.Com Inc. will set up a joint venture with online fashion retailer Meili Inc. to develop 'no boundary retail' that fuses e-commerce with social life.
Meili Chief Executive Chen Qi will serve as chairman of the venture, which aims to create a new model of social e-commerce through JD.Com's interface in Tencent Holdings Ltd.'s social messaging app WeChat, Tencent Tech reported. Each party's investment and share ownership were not disclosed.
JD.Com and Tencent, one of China's biggest internet companies, jointly introduced the concept of 'no boundary retail' last October. It would create online communities of consumers with similar buying preferences. The idea also aims to connect online stores with offline ones through WeChat and provide membership, reward points, coupons and other services.
China's e-commerce players such as JD.Com and rival Alibaba Group Holding Ltd. are making concerted efforts to merge online and offline retailing, using digital tools to tempt consumers to shop at brick-and-mortar stores and for real-world services while bringing traditional retail into the digital age.
The JD.Com-Meili venture will start seeking investment for its new platform before the lunar new year in mid-February.
Meili specializes in women shoppers, owns multiple brands and has more than 15 million active daily users. It not only provides online retail, but also society and fashion information.