Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Friday, 2 February 2018, 18:30 HKT/SGT
Share:
    

Source: Fung Retailing Limited
JD.com and Fung Retailing Form Artificial Intelligence Partnership

BEIJING, Feb 2, 2018 - (Media OutReach) - Fung Retailing Limited, with a network of over 3,000 stores, and JD.com (Nasdaq: JD, JD.com or JD.COM), China's largest retailer, today announced a partnership to develop AI-driven retail solutions. According to the agreement signed today, the two companies will cooperate in using AI to transform the retail landscape, and to collaborate in areas including AI platform development and the application of AI to smart retail.

The agreement calls for the establishment of an AI Boundaryless Retail Center that will oversee and manage cooperative research and development projects, and facilitate the sharing of information and expertise relating to AI technology. Leveraging AI, and combining JD.com's extensive online expertise and Fung Retailing's offline expertise, the two companies aim to develop a new retail format for China and Asia. This includes creating an AI-driven retail system that seamlessly integrates online and offline retail platforms; developing an end-to-end system that enables the management of products, pricing, storage, order and payment; and enhancing consumer experience through solutions such as AI-driven virtual fitting, unmanned stores and smart shopping assistants.

Speaking at the signing, Sabrina Fung, Group Managing Director of Fung Retailing Limited said, "When it comes to the future of retail, and driving the customer experience, AI is an essential component. Across our retail portfolio, AI is a focal point and this co-operation with JD will, without doubt, accelerate our progress."

Bowen Zhou, Vice President of JD.com and Head of JD's AI Platform and Research said, "As one of the largest retailers in the world, we believe that figuring out how to deploy AI solutions is critical to our future success. Drawing on Fung Retailing's global offline retail expertise, this partnership will be important for us as we deliver our retail vision."

Other areas of focus within the agreement include cooperation on the construction of AI infrastructure, as well as smart retail, creating AI-driven solutions that break down the barriers between online and offline, and exploring the intersection of AI and fashion.

About Fung Retailing Limited
The retailing businesses of the Fung Group are brought together under privately-held Fung Retailing Limited and extend from Greater China to the UK, France, Korea, Singapore, Malaysia, Thailand, and the Philippines through a combined network of over 3,000 stores. Focused on the Asian consumer and authentic heritage brands they include stores operated separately and independently by publicly-listed Convenience Retail Asia Limited (SEHK: 00831) and Trinity Limited (SEHK: 00891), as well as the privately-held Branded Lifestyle Holdings Limited, Fung Kids (Holdings) Limited, Toys "R" Us (Asia) Limited, Suhyang Networks Company Limited and UCCAL Fashion Group. Fung Retailing employs over 18,000 staff across a portfolio small, mid and large box size formats in the categories of men, women, children and food. Its turnover exceeds US$1.8 billion. The Fung Group (www.funggroup.com) is a Hong Kong-headquartered multinational group whose core businesses are engaged in trading, logistics, distribution and traditional and digital retailing.

Note to Editors: Privately-held Fung Retailing Limited is totally separate from the publicly-listed company Li & Fung Limited.

About JD.com, Inc.
JD.com is both the largest e-commerce company in China, and the largest Chinese retailer, by revenue. The company strives to offer consumers the best online shopping experience. Through its user-friendly website, native mobile apps, and WeChat and Mobile QQ entry points, JD offers consumers a superior shopping experience. The company has the largest fulfillment infrastructure of any e-commerce company in China. As of September 30, 2017, JD.com operated 7 fulfillment centers and 405 warehouses covering 2,830 counties and districts across China, staffed by its own employees. JD.com is a member of the NASDAQ100 and a Fortune Global 500 company.

Media Contact
Geoff Bilbrough
FleishmanHillard Hong Kong
Tel: +852 2586 7830
Email: Geoff.Bilbrough@fleishman.com

Chris Lee
FleishmanHillard Hong Kong
Tel: +852 2586 7851
Email: chris.lee@fleishman.com


Feb 2, 2018 18:30 HKT/SGT
Topic: Press release summary

http://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2019 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.


Multimedia
(Back Left) Victor Fung, Group Chairman of the Fung Group; (Front Left) Sabrina Fung, Group Managing Director of Fung Retailing Limited; (Back Right) Richard Liu, Chairman and CEO of JD.com and (Front right) Dr. Bowen Zhou, Vice President of JD.com and Head of JD's AI Platform and Research attended the AI+ retail strategy cooperation signing ceremony today.
View Image
 

Latest Press Releases
Lubrizol's Diamond Dispersions Business Wins Queen's Award for International Trade  
Apr 23, 2019 23:00 HKT/SGT
Trintech Adds Over 20 Industry-Leading Capabilities to Cadency's Transformative System of Controls for the Office of Finance  
Apr 23, 2019 23:00 HKT/SGT
North America's best campaigns and companies across creativity, effectiveness and media excellence - WARC Rankings 2019   
Apr 23, 2019 21:30 HKT/SGT
HKTDC Hong Kong Houseware Fair and Home Textiles Fair draw close to 47,000 buyers  
Apr 23, 2019 20:00 HKT/SGT
TransCanna Will Acquire Daily Cannabis Goods Brand with GoodFellas Acquisition  
Apr 23, 2019 16:00 HKT/SGT
Fujitsu Named "Competitive IT Strategy Company" for 2019  
Apr 23, 2019 14:58 HKT/SGT
Hitachi Receives Order for Two Voltage-Sourced Frequency Converters for Chubu Electric Power Higashi Shimizu Substation  
Apr 23, 2019 14:43 HKT/SGT
Showa Denko Starts Service to Measure Performance of Noxious-GHG Removal Equipment  
Apr 23, 2019 12:00 HKT/SGT
Asia's best campaigns and companies across creativity, effectiveness and media excellence - WARC Rankings 2019  
Apr 23, 2019 11:45 HKT/SGT
Toyota: The Future of Zero-Emission Trucking Takes Another Leap Forward  
Apr 23, 2019 08:00 HKT/SGT
More Press release >>
 Events:
More >>
 News Alerts
Copyright © 2019 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 800 291 0906 | Beijing: +86 400 879 3881 | Hong Kong: +852 2217 2912 | Singapore: +65 6304 8926 | Tokyo: +81 3 6721 7212

Connect With us: