Chinese e-commerce giant JD.com evaluates a potential £2bn bid for UK online retailer Very Group amid a formal auction process.
JD.com is considering a £2bn ($2.70bn) offer for The Very Group, a UK-based online retailer operating under the Very and Littlewoods brands. The potential deal follows Very Group’s financial restructuring, which transferred control to US private equity firm Carlyle earlier this year.
Very Group, with annual revenue exceeding £2bn and 4.4 million customers, recently entered a formal auction. Carlyle assumed ownership for £1 after the retailer’s insolvency proceedings in November, building on prior investments, including an £85m capital injection in 2024. The retailer’s creditors include UAE-based IMI and UK fund Arini, which provided a £600m loan last year.
The auction process marks a shift for Very Group, previously owned by the Barclay family for over two decades. The company spans fashion, electricals, homewares, and consumer finance.