Chinese ecommerce giant JD.com has completed its €1.3 billion takeover of German retail group Ceconomy, gaining control of MediaMarkt and Saturn as it looks to expand its consumer electronics presence across Europe.

Announced on 12 November, the deal gives JD.com a 59.8 per cent stake in Ceconomy in exchange for €1.335 billion, with investment partner Convergenta retaining a further 25.3 per cent. The combined shareholding of 85.2 per cent makes Ceconomy a subsidiary of JD.com, with its financial results now consolidated into the Chinese group's accounts.

The acquisition follows the completion of regulatory requirements, including merger control, foreign investment and European Union foreign subsidies clearances.

JD.com chief executive Sandy Xu said the partnership would help establish “Europe’s leading next-generation consumer electronics platform”, combining Ceconomy's retail presence with the Chinese group's technology and logistics capabilities.

Ceconomy operates more than 1,000 stores across 11 markets under the MediaMarkt, Saturn and MediaWorld brands, alongside its online retail operations. The business employs more than 50,000 people and recorded more than 53 million loyalty members and 2.2 billion annual customer contacts in 2025.

Speaking to Reuters, JD Worldwide chief executive Jack Li said the group intended to use the acquisition to build Europe's leading online retail platform for electronic goods.

The deal is expected to accelerate JD.com's logistics and delivery ambitions in the region. Ceconomy chief executive Remko Rijnders told Reuters that the partnership would support plans for next-day delivery across Europe, 90-minute deliveries through Uber and in-store collection within 30 minutes.

Rijnders said the proposed improvements would give the business a significant competitive advantage, adding: “This will change the market in Europe.”

The partnership could further connect JD.com's Joybuy ecommerce platform with Ceconomy’s established physical retail network, allowing online customers to access MediaMarkt and Saturn stores. JD.com currently operates more than 60 distribution centres in Europe and plans to expand its regional logistics infrastructure.

Despite the change in ownership, Ceconomy will continue operating as a standalone European business with its own independent technology infrastructure. JD.com said there were no planned changes to the workforce, employee agreements or store locations, while existing management will continue running the retailer.

JD.com launched Joybuy in the UK earlier in 2026, positioning the platform to compete with established ecommerce retailers through competitive pricing and delivery services. The Ceconomy acquisition gives the group a substantially larger physical retail footprint as it pursues further expansion in European markets.

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