Kering Eyewear, subsidiary of French luxury group Kering SA, will open its first flagship store on JD.com Inc.'s platform in a move to capture China's fast-growing e-commerce market, Women's Wear Daily reported March 13, citing president and CEO Roberto Vedovotto.
As part of the collaboration, the online retail giant reportedly will distribute Kering Eyewear products from brands including Gucci, Cartier, Saint Laurent and PUMA SE to its customers.
The retailer, based outside Padua, Italy, on Oct. 25, 2017, rolled out an eyewear line with Compagnie Financière Richemont SA-owned jeweler Maison Cartier as part of a strategic partnership between the companies.
According to a Feb. 7 report, JD CEO Richard Liu said the company is planning to grow its European market "within a few years" to begin challenging U.S. rival Amazon.com Inc. by as early as 2019, starting with an investment of at least €1 billion over two years to build a logistics network in France.
The Chinese retailer also previously agreed to sell £2 billion worth of British goods and €2 billion of French goods to local consumers over the next few years.
