JD.com announced its unaudited financial results for the three months ended September 30, 2022.
In the third quarter, Fendi, a luxury fashion brand under LVMH, launched a flagship store on JD.com, making the e-commerce company the first to obtain full partnerships with the nine top fashion brands under LVMH. Meanwhile, Italian high-end clothing brand Max Mara and French luxury footwear brand Roger Vivier also joined JD.com. In terms of beauty brands, JD.com welcomed Christian Louboutin Beauty, Bobbi Brown and La Prairie, among others, further enriching the company’s offerings of high-end beauty and cosmetic products. In addition, Canadian fashion and sportswear brand Lululemon launched its flagship store on JD.com during the third quarter.
All this contributed to the increase in net revenues for JD.com in the third quarter of 2022 – a recorded CNY 243.5 billion (USD 34.2 billion) was reported for the period stated, an increase of 11.4 percent from the third quarter of 2021. Net service revenues for the third quarter of 2022 were CNY 46.5 billion (USD 6.5 billion), an increase of 42.2 percent from the third quarter of 2021.
JD.com continued to accelerate the rollout of its “National Pavilions” program, bringing consumers a variety of specialty products from around the world, especially the supermarket category. In addition to the over 70 national pavilions that were launched on JD.com, the company welcomed nearly 20 countries during 2022’s Singles’ Day Grand Promotion. By leveraging JD.com’s app, 7Fresh and other marketing and logistics channels, JD has introduced many high-quality specialty products from overseas to Chinese consumers, providing more diverse and convenient shopping options.