Chinese retail giant in talks to buy Argos
UK supermarket group Sainsbury’s has confirmed that it is in discussions for a potential sale of struggling retail chain Argos to a leading Chinese e-commerce giant.
Retailer JD.com is looking to buy Argos, as it seeks to position itself in the UK market.
The bid comes following JD.com’s failure to purchase electrical retailer Currys last year.
Sainsbury’s said it is “committed to delivering the strongest and most successful future” for Argos and its consumers.
It added the Group’s transformation strategy, which aims to expand Argos’ product range, increase investment in digital platforms and streamline supply chains, is “delivering solid progress” for the online retailer.
Accelerate growth
However, the supermarket chain said a transaction with Nasdaq listed JD.com could accelerate Argos’ transformation, by providing increased technology and logistics experience.
The potential sale is also expected to bring in further investment to drive Argos’ growth and improve the consumer experience.
JD.com is China’s largest retailer with 600 million annual active customers.
The company reported revenue of $158.8bn (£128.5bn) in the 2024 financial year.
It reported revenue of $91.8bn in the first half of 2025.
The retailer was trading at $33.67 upon markets closing on Friday.
No deal yet
The terms of any potential transaction would include commitments from JD.com in relation to Argos for the benefit of consumers, colleagues and partners.
The supermarket chain confirmed no deal has yet been reached, adding there is no certainty at this stage that any transaction will proceed.