Yonyou Invests RMB 10 Mln in Kitchenware B2C E-Commerce Site
Ebrun, 12/28/12
Chinese enterprise management software developer Yonyou Software's (600588.SH) wholly-owned investment arm Yonyou Xingfu Investment has invested RMB 10 mln in independent kitchenware B2C e-commerce site Jiaku.com.
Yonyou VP Jia Wenxin oversees Yonyou Xingfu Investment as general manager. The investment arm concentrates on the software and information services industry, and the Jiaku.com investment is Yonyou's first foray into the e-commerce sector.
Du Yu, GM of Yonyou's e-commerce division, said he was unaware of the investment due to compartmentalization between the company's divisions, but added that in the short term Yonyou has no plans to establish its own e-commerce platform.
Jiaku was founded by Wang Wei in February 2011. Wang said that Yonyou will not interfere in daily operations once the investment is completed, but will leverage its advantages to support Jiaku in a variety of ways.
"Yonyou has a huge corporate user base, and in the future Jiaku will serve as one of Yonyou's gift purchasing platforms for enterprise clients; secondly, Yonyou will help standardize Jiaku's financial systems and provide Jiaku with free use of Yonyou's products," said Wang.
Wang said the funds will primarily be invested in developing Jiaku's own brands and logistics construction. In 2013, Jiaku will begin a major expansion of its own brand as well as serve as an online reseller for French, German, and other well-known kitchenware brands. Besides expanding its Beijing and Zhejiang logistics bases, it will also build a new facility in Guangdong. In terms of sales channels, Jiaku will begin trialing offline experience stores in major cities nationwide in H2 2013.
Keywords: Jiaku Jia Weixin Yonyou Xingfu Du Yu Wang Wei e-commerce Internet investment B2C 600588.SH Yonyou enterprise software
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