51Buy Sets RMB 1.2 Bln December 2012 Sales Target

Sina Tech, 12/05/12

Chinese internet giant Tencent's (0700.HK) B2C e-commerce subsidiary 51Buy yesterday announced that it will hold a "12/12" sales event on December 12 in cooperation with 500 brand partners, and has set a December sales target of RMB 1.2 bln. According to a 51Buy representative, the site released RMB 50 mln in discounts yesterday. As of December 1, 51Buy began investing over RMB 100 mln in marketing and promotions for the sales event in major cities, including Beijing, Shenzhen, Shanghai, Hangzhou, and Guangzhou.

Editor's Note: In August, 51Buy CEO Bu Guangqi said the company was targeting RMB 10 bln in total sales for 2012.

Keywords: e-commerce Internet marketing B2C Tencent Bu Guangqi sales target 0700.HK 51Buy 12/12

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