E-marketplace JD Central has announced it will end its operations in Thailand from March 3.
JD Central, a joint venture between Central Group and Chinese internet giant JD.com, is one of the three biggest e-marketplaces in Thailand. The others are Lazada and Shopee.
The company's announcement on its Facebook page said official stores in JD Central will stop placing orders at 11.59pm on Feb 15, while other sellers on the platform will stop receiving orders at 11.59pm on March 3.
All transactions would be completed by March 3. Delivery times would be determined by the third-party logistics firms and sellers.
JD Central said it would provide after-sale services until March 31.
Its JD points and discount coupons would be available until 11.59pm on March 3.
"JD CENTRAL highly appreciates our customers, sellers, partners and employees for all their kind and continuous support. Thank you for being part of our journey over the years," the statement said.
Wisan Sirikul, corporate marketing director of JD Central, said the shutdown decision was made by the shareholders of the two parties. China's JD.com would like to focus on its supply chain and cross-border business.
About 500 employees would be laid off and receive 100% provident fund compensation, he said.
Central JD Commerce, the platform's operator, reported 7.4 billion baht in total revenue in 2021, up 113.17% from a year before, according to the latest data from the Department of Business Development.
But it booked a net loss of 1.9 billion baht in 2021 with the loss expanding 40.3% year-on-year.
Reuters reported that JD.com announced it also intended to end its service in Indonesia, JD.ID, at the end of March.
