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(Yicai Global) June 29 -- Comix Group, a well-known Chinese office supplies maker, has penned a letter of intent with China's biggest e-commerce firm JD.Com as it looks to adopt the New Retail business model which is blazing a trail across the nation.
The two firms signed the document yesterday, Shenzhen-based Comix said in a statement the same day. Under the plan, JD will distribute Comix products at 5,000 convenience stores and 500 JD Home outlets from this year until 2020.
Beijing-based JD will also provide tech services to help its new partner transform 300 of its own stationery shops into smart retail outlets within the next three years, the statement added. The duo will convert at least five of them into JD Home stores. The pair will also tie up in the supply chain, with the e-commerce titan helping Comix better manage operations.
Smart retail, or New Retail, is a new business strategy taking China by storm. Championed by Alibaba's Executive Chairman Jack Ma, it involves the integration of online sales and technology with deep logistics networks to make internet shopping more convenient for consumers.
Editor: James Boynton