Mogujie is a buyer-based social commerce site focused on women’s fashion in China. The decision to establish the venture not as an independent site but a WeChat mini-program shows not only how important WeChat has become, but also how close all three companies have grown. WeChat’s owner, Tencent, is a major investor in Meili, having increased the stake it already had in Mogujie when it bought out Meilishuo. It is also JD.com’s largest shareholder, with a 20 percent stake in the company. Tencent still relies on JD.com for a significant chunk of the transactions made through its payment service, WeChat pay, and is no doubt taken with JD.com’s powerful delivery and logistics system. The two companies also share data to better target consumers. The relationship between JD.com and Tencent grew even closer after the two companies invested in luxury e-commerce platform Vipshop together last month. Located in Chengdu, the capital of Sichuan province, the store covers product categories include infant powder, nutritional supplements, diapers, washing and care products, apparel and toys. 20 to open its first store for baby and maternal products.
The strategy seems clear: to join forces to compete against Alibaba’s Taobao and TMall for a larger share of China’s lucrative e-commerce market. Jingxi, a business group under JD.com focusing on lower tier markets, announced on Apr. (Note: JD.com also has partnerships with Walmart and Baidu) It’s like the Avengers, all teaming up to take on Alibaba CEO Jack Ma. Mogujie acquired Meilishuo in a $3 billion deal in 2017.
Its backers included Tencent Holdings, GGV Capital, Sequoia China, and BlueRun Ventures. Selling on WeChat is becoming increasingly popular among luxury brands, and the joint venture between JD.com and Meili promises to help convert excited discussion on Mogujie and Meilishuo over the latest items into sales.
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