JD.com eyes The Very Group acquisition for UK expansion, Sky News reports

Chinese e-commerce company JD.com is evaluating a potential 2 billion pound, or 2.70 billion dollars, acquisition of the British online retail platform The Very Group, according to a report by Sky News on May 22, 2026. The move marks the latest initiative by the Beijing-based firm to expand its footprint within the UK digital commerce sector.

The potential offer follows a series of previous strategic efforts by JD.com to establish a firmer foothold in the UK market. The company recently executed a failed takeover bid for electricals retail group Currys, and last year walked away from discussions regarding a potential acquisition of Argos from J Sainsbury.

Chinese digital players accelerate European expansion plans

The Very Group, an online department store and flexible payment provider based in the UK, generates annual revenues of approximately 2.10 billion pounds. The business was acquired last year by global private equity firm Carlyle, ending the long-standing involvement of the Barclay family. Carlyle was reported in January to be preparing an auction process for the multi-brand digital retailer, valuing the platform between 2 billion pounds and 2.50 billion pounds.

Strategic expansion into Western European retail markets has accelerated among major Chinese digital operators. JD.com recently launched its upgraded e-commerce business, Joybuy, across six European countries, including Germany and the UK, with a focus on rapid fulfilment.

An acquisition of an established British digital entity like The Very Group would grant JD.com immediate local brand recognition, logistical infrastructure, and a substantial consumer base accustomed to consumer credit options. The retail platform includes distinct digital storefronts, such as Very.co.uk and Littlewoods.com, which feature an extensive selection of apparel, sportswear, and home goods.

Review of The Very Group 2025 performance

The financial services division of The Very Group remains an integral component of its business model, offering revolving credit facility options like buy now, pay later (BNPL) to shoppers. In the 2025 financial year, the retail group recorded an increase in its gross margin to 36.60 percent, driven primarily by integrated financial provisions and category shifts, whilst EBITDA rose 8.40 percent to 267 million pounds.

However, performance across specific consumer sectors diverged, with home goods expanding by 9.90 percent while fashion and sportswear declined by 3.70 percent amidst a domestic retail landscape shaped by aggressive discounting. The broader organisation also reported a widened pre-tax loss of 505.40 million pounds for the period, heavily impacted by financing costs and accounting revaluations.

Representatives for JD.com and The Very Group have declined to comment to Reuters, on market speculation surrounding the potential acquisition.