E-Commerce
Despite of losses m18.com invests 100 million yuan
The online shopping platform for accessories and apparel announced its investment of 100 million yuan to build the Jiangsu Wujian operations center. They want to change from leasing storage mode to self-storage and even intend to open up a third-party warehousing revenue channel. They will invest although they have made huge losses this year. In Q1 and Q2 2012 they had a loss of $ 3.9 million and $3.4 million. Their Q1 revenue of $ 37.1 million is a y-o-y drop of 22.8%.
Source: Ebrun
Digital
Announcement of cloud strategy at Baidus World Congress
Yesterday Baidu hosted their World Congress and announced their cloud strategy. They entered a cloud development era. Baidu does no longer position itself as search engine provider but as provider of hardware and software. They are no more a search engine company but rather like Google and Apple. In the next few years they will invest more than 100 billion yuan to build a cloud computing center.
Source: Huxiu
Chinese Milestone
Suning's Super Stores
Yesterday Suning officially announced the launch of a new generation of physical retail stores - The Suning Super Stores. The business category covers 17 categories like 3C, household applianced, books, financial products or general merchandise commodities. 20 stores open during this year and 400 are expected withing the next 3 years. Suning Super Store's non-electrical product sales proportion will reach 50%, while sales will account for 30-40% of the share.
Source: Linkshop