JD.com is pondering a retreat from major markets in Southeast Asia, as the Chinese e-commerce giant sharpens its focus on cutting losses in the region and bolstering operations in its home market, according to people familiar with the matter.
Beijing-based JD.com intends to pull back from its businesses in Indonesia and Thailand, where sales growth has been a challenge for several years, the sources said.
The company has been looking for an investor to take over its interest in JD.ID, a joint venture that it formed in 2015 with Singapore-headquartered private equity firm Provident Capital Partners, according to three people close to the Indonesian e-commerce platform.
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