China’s online JD.Com retailer started selling magneto-optical goods for backing files up in October 2012. Since then the brand has diversified to include everything from mobile phones, computers and electronic goods to clothing and household appliances. In a bold move, it recently announced it is adding fresh Chile avocados and cherries from the U.S. sourced through China’s online leader in fresh produce Fruitday. After receiving several enquiries regarding an earlier post we are pleased to provide the additional information here.
Online JD.Com Top Dog in Series C Fruitday Funding
This further diversification makes good commercial sense, since the online JD.Com retailer was lead investor in the latest round of Fruitday funding, followed by global quantitative trading firm Susquehanna International Group and private equity firm ClearVue partners. The latter both held existing stakes in Fruitday already, making it impossible to tell whether they fancied more of a good thing, or were slipstreaming behind online JD.Com.
Why Fruitday Makes Sense for Online JD.Com
Fruitday began as an online fruit retailer brand in 2009, and boasts a reputation for commitment to service and quality that makes it the one to beat in is class. It keeps a close eye on the selection, transportation, storage, distribution and after-sale cycle of the fruit it 80% brings in from Australia, Chile, New Zealand, South Africa and the U.S. It has displayed 150% annual top line growth throughout its six-year lifespan making it eminently suitable for the online JD.Com portfolio.
Part of the Bigger Online Logistics Network Race
If analysts are correct when they say that over 60% of China’s 1.4 billion population will make at least one online purchase in 2016, then more needs to be done to the country’s transport infrastructure to allow fast smooth shipping of quality perishable goods. Fruitday made a smart move when it hopped into bed with market leaders online JD.Com who are set to pour another $16 billion in China logistics shortly. This positions it even better to keep delivering on its promises to Chinese online fruit consumers.