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CJ O Shopping, Baozun to launch e-commerce service JV in China

Collected: 2016.07.29

Distributed: 2016.08.01

Source: Go Direct

[Photo by CJ O Shopping]

CJ O Shopping Co., TV and online shopping unit of South Korean conglomerate CJ Group, will launch an e-commerce solution business together with a Chinese e-commerce service provider in a bid to expand its presence in Chinese online consumer market.

CJ O Shopping said in a disclosure statement on Thursday that it signed an agreement with China-based e-commerce service provider Baozun Inc. to invest $6.7 million and establish a joint venture Baozun-CJ E-commerce. CJ O Shopping will take a controlling 49 percent stake in the joint venture while its Chinese partner takes 51 percent. The joint venture will be set up in August and start operation in September.

Under the terms of the agreement, CJ O Shopping will be responsible for developing and sourcing merchandise while Baozun will handle logistics, marketing, and IT service.

Baozun is the biggest e-commerce service operator in China and the biggest partner of China’s e-commerce giant Alibaba Group. It provides online shopping services for about 160 international labels including Nike, Burberry, Zara, and Philips in China and it is expected to handle merchandize worth 2 trillion won ($1.8 billion) this year.

CJ O Shopping says the joint venture will serve as an e-commerce service platform with various services ranging from online sales, logistics to customer service for small- and medium-sized Korean companies when they enter the Chinese online market. The joint venture will also run a flagship online store devoted to Korean brands at Alibaba’s online shopping malls Tmall.com, JD.com, and Sunning Commerce.

By Park Eun-jin

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