Yihaodian to Introduce Self-Branded Apparel
Analysys, 5/16/13
Chinese B2C online retailer Yihaodian will begin selling apparel under its own brand, "Bestluck," on May 20. Tong Jueming, Yihaodian Senior Product Director responsible for all the company's self-owned apparel brand products, said that Yihaodian will use contract manufacturing to keep costs and quality under control. The company will initially make 500 SKUs of self-branded clothing available to its base of more than 30 mln users.
The newly established self-owned brand apparel team will report directly to the CEO of Yihaodian. The company has invested a considerable sum in hiring away staff from B2C clothing website Vancl, its "imaginary rival," to develop its own team.
Yihaodian stressed that after referring to the pricing systems for comparable fast-moving apparel brands, it has settled on prices approximately 50% lower than those of its competitors.
Tong declined to divulge any details of the company's investment in the new initiative, but said that, "given Yihaodian's RMB 2.72 bln in sales for 2011 and roughly RMB 6.8 bln in sales for 2012, the investment is not all that big."
Keywords: Tong Jueming apparel Internet B2C Yihaodian branding e-commerce
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