NEW YORK (TheStreet) -- Shares of Chinese e-commerce site JD.com (JD) - Get Report rose 5.35% to $32.66 in afternoon trading Wednesday after the company announced a warehousing and delivery agreement with Japan's Uniqlo that JD Mall CEO Haoyu Shen believes will bring in more companies to use its logistics services.
Uniqlo is the first international clothing brand to use the company's warehouse services, Shen told Bloomberg via e-mail.
"Uniqlo using our warehouse and delivery network for same-day delivery is like providing the fastest courier service," he said. Supplying warehouse services to merchants is "a tremendous growth opportunity" for JD.com, Shen added, though he did not offer a forecast.
JD.com has a similar model to Amazon.com (AMZN) - Get Report in which the company manages inventory and sells products directly to consumers. JD.com has decided to open its warehouse network built to accelerate its own deliveries to other companies.
William Blair analysts estimated in a recent research note that JD.com gained 5 percentage points of gross merchandise volume (GMV) market share in the fourth quarter compared to one year earlier, while Alibaba's Tmall, which competes with JD.com in the business-to-consumer marketplace, lost 2 percentage points.
Despite this, the firm said Alibaba's share in the fourth quarter was still higher at 61.4% compared to JD.com's 18.6%.
"We believe faster third-party growth and broadening of the assortment are increasing the appeal of the JD.com platform," William Blair wrote in the research note.