JV to bring imported FMCG
Print Edition
SHANGHAI-BASED and Nasdaq-listed e-commerce service provider Baozun Inc has teamed up with South Korea’s e-commerce operator CJ O Shopping for a joint venture to bring imported goods to Chinese online shopping sites.
The venture will focus on fast moving consumer goods such as cosmetics and personal care products initially. Baozun will hold 51 percent of the venture, without revealing how much capital each party will invest in the new company.
Baozun will take charge of marketing and technical support as well as logistics for selected Korean brands in China while CJ will select the categories and types of products to be introduced to the domestic market, according to a joint statement yesterday.
CJ O Shopping, a subsidiary of South Korean conglomerate holding company CJ Corp, has been expanding to seek alternative revenue streams.
About 10 percent of CJ Group’s revenue comes from its China sales and it aims to raise that to about 25 percent by 2020.
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