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Redbaby 2010 Revenue Reaches RMB 1.5 Bln

Tencent Tech, 4/02/11

Redbaby CEO Xu Peixin said today that the Chinese B2C baby care and maternity products site had seen combined revenues of RMB 1.5 bln from its online and catalogue sales businesses in 2010, and predicted that the company's new online fashion shopping platform Binggo.com would pass its target of RMB 1 bln this year, with revenues from other businesses essentially maintaining parity with last year.

According to the company's latest figures, Redbaby had online revenues of RMB 600 mln last year, and catalogue sales revenues of RMB 900 mln. Maternal care and childcare products accounted for RMB 960 mln in revenues, while non-maternal and childcare products accounted for RMB 540 mln.

According to the plans that the company revealed late last year, Redbaby will make its website the core of its business while maintaining a dual catalogue/online business model.

Redbaby's third-party open platform plan is also under development, with an official launch expected in September.

Xu expressed skepticism regarding the current trend of B2C companies investing heavily in building their own logistics systems, saying that there were problems with the trend. "This year," he said, "Redbaby will decrease its investment in building its own logistics systems, and will increase partnerships with third-party logistics and delivery companies."

Reportedly, Redbaby currently has six major logistics centers around the country, and a delivery team of more than 1,000 people. According to a senior Redbaby executive, the company will reduce the number of logistics centers to five within the year.

Keywords: Binggo Redbaby Internet online childcare revenue B2C online fashion business model logistics Xu Peixin open platform e-commerce

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