360Buy to Challenge Traditional Rivals
Chengdu Shangbao, 2/01/10
CEO Liu Qiangdong has declared Beijing-based IT product B2C e-commerce platform 360Buy ready for a "price war" with traditional department stores, adding that the firm has been preparing for the confrontation for three years. 360Buy plans to use half of its recent receipt of USD 150 mln in funding to build out distribution, while the other half will be used to guarantee low prices.
Liu said 360Buy will launch a RMB 100 mln brand promotion campaign in Chengdu utilizing outdoor, in-vehicle and TV advertisements.
Keywords: retail Liu Qiangdong e-commerce Internet 360buy pricing
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