Rumor: Gome to Launch Luxury E-Commerce Business

Beijing Morning Post, 6/12/12

Industry sources reported yesterday that Chinese home appliance and consumer electronics retailer Gome (0493.HK) has set aside RMB 10 mln for investment in an e-commerce company that will be positioned as a luxury goods retailer. A source inside Gome said that the business was separate from the company's retail business, and speculated that the project might be overseen by former chairman Wong Kwong Yu's younger sister Huang Xiuhong.

The new company, which is reportedly preparing for a mid- to late-June launch, is a wholly owned subsidiary of Gome. Former Gome senior executive Ying Chi has been named as the CEO.

A search on listings websites including Zhaopin.com revealed that Gome is currently hiring for positions including "director of luxury items."

Keywords: Ying Chi Huang Xiuhong Wong Kwong Yu e-commerce Internet Gome 0493.HK luxury

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