Merger improves clear vision
Print Edition
China’s top two online retailers of glasses announced a merger so that they can offer users “lower prices and better services.”
Kedee.com invested 52 million yuan (US$8.5 million) to acquire Eyesee.com. After the merger, Keedee will generate a revenue of 500 million yuan, double the current level of about 260 million yuan. The merger will also help Keedee to capture about 65 percent of China’s online glasses retailing market, according to Ma Li, chief executive of Kedee.
“The merger of two top firms will create volume effect to allow us to offer lower prices and better services to customers,” Ma said yesterday.
The business-to-consumer glass market has great potential, according to market observers.
Kedee has over 8 million registered members nationwide. It has several offline stores in Shanghai where users can have their eyesight tested.
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