JD.com Creates Groceries Arm as Rival Alibaba Weighs Spinoffs
- 7Fresh chain will anchor a new ‘Innovative Retail’ division
- JD has spun off and listed several units in Hong Kong
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JD.com Inc. aims to create an independent unit by merging its 7Fresh supermarket chain with other online services, establishing a retailer of fresh food and groceries that serves millions nationwide.
China’s No. 2 e-commerce company plans to set up what it called an “Innovative Retail” operation that includes 7Fresh supermarkets, group-buying platform Pinpin as well as on-demand services, a person familiar with the matter said. Yan Xiaobing, the former head of JD.com’s international business, will lead the unit effective Monday and report directly to group CEO Sandy Xu, the person said, asking to remain unidentified because the restructuring hasn’t been publicly announced.