Country Heights Holdings Berhad the owner of The Mines Shopping Mall has confirmed that it will be bringing JD.com to Malaysia with the opening of the first physical store in the country.
The collaboration will lead to the development of JD.com’s Omni channel business model using JD.com technologies and CHHB’s resources who a new experience for the consumers in Malaysia.
JDMines Sdn Bhd will be set up and to operate this initiative and it will be 70% owned by CHHB with the remaining 30% owned by Star Pulse Sdn Bhd, a technology incubator that will be working with CHHB on the implementation and execution of the omnichannel business model.
With this collaboration, JDMines will build the first physical store of about 100,000 sq ft of retail space on the ground floor of Mines International Exhibition and Convention Centre, located at the Mines Resort City, Selangor. Here consumers will be able to see the products in a physical store and have a choice to purchase them in-store or online.
Based on GlobalData.com’s E-Commerce Analytics, the Malaysian e-commerce market, one of the fastest-growing in Southeast Asia registered a strong growth of 10.6% in 2021 due to an accelerated shift towards online shopping among consumers caused by the pandemic. E-commerce payments in Malaysia are estimated to increase at a CAGR of 18.3% from RM28.5 billion ($7.1bn) in 2021 to reach RM55.7 billion ($13.8bn) in 2025. This is a market that JDMines intends to further augment with its curated products and physical showcasing from the JD.com platform.
Datuk Jared, Lim, Managing Director of CHHB said, “We’ve been planning this with JD.com for almost 1 year and we are pleased to finally be able to announce the collaboration. At its core, omni-channel is defined as a multi-channel sales approach that provides the customer with an integrated customer experience.
Tan Sri Lee Kim Yew, the Founder and Chairman of CHHB have this to say about the signing, “This is a pivotal moment in Country Heights which was founded to deliver “Better Living” to Malaysians. In line with our overall transformation plan, a partnership with one of the most successful technology groups in China will allow us to use technology to leverage our assets and create significant value for our Group. Platforms allow products and services to extend our operations beyond our home state, catering for consumers across the entire market.