Wanda Group to Go Online
Southern Metropolitan News, 2/24/12
A well-placed source in the e-commerce industry claimed today that Dalian-based Wanda Group is hiring new staff in preparation for an entry into the e-commerce field.
The Wanda Group is involved in five major businesses: real estate, hotels, movie theatres, department store chains, and travel and resorts. Wanda reportedly plans to integrate the five product lines before putting them online. Its online department store business, for which Wanda is seeking to hire a management team for independent B2C operations, will reportedly operate similarly to Intime Group's (1833.HK) luxury goods site Yintai.com, while its online travel and hotels business will imitate online travel service providers eLong (Nasdaq: LONG) and Ctrip (Nasdaq: CTRP).
Wanda is currently recruiting a management team, including CEO, CFO, and Chief Branding Officer positions, with the annual salary for the Wanda e-commerce CEO reportedly to be RMB 2 mln. Liao Bin, CEO of Yintai.com, said that he and his coworkers had received a large number of calls from headhunters. A major tech figure from IBM has reportedly joined Wanda already.
Editor's Note: For more information on this topic, please see "MOFCOM Encourages Large Retailers to Go Online," MD 2/07/12 issue.
Keywords: Wanda e-commerce Internet online travel B2C Liao Bin online real estate HR film hotel
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