THE WHAT? Chinese e-commerce company JD.com is reportedly considering a potential £2 billion bid for UK online retailer The Very Group as part of its continued expansion ambitions in the British retail market.

THE DETAILS  According to reports from Sky News, JD.com is evaluating an acquisition of The Very Group, which is currently owned by private equity firm Carlyle. The retailer, known for its online fashion, home and beauty offering, was reportedly put up for sale earlier this year following Carlyle’s takeover from the Barclay family. The move would mark JD.com’s latest attempt to strengthen its UK retail footprint after previously pursuing Currys and exploring talks to acquire Argos from Sainsbury’s. Neither JD.com nor The Very Group commented on the reports. The Very Group operates across fashion, beauty, homeware and consumer goods categories and has established a strong digital retail presence in the UK market.

THE WHY? A potential acquisition would provide JD.com with greater access to the UK’s established e-commerce infrastructure, customer base and premium online retail categories, while intensifying competition in the British digital retail and beauty sectors.

Source: Reuters