#Asia Walton Brown and eCargo sign joint venture to launch China’s social mobile shopping platform


The newly formed company, WWE & Company Limited will launch a “Made-for-China” mobile shopping platform offering an authentic assortment of products in the luxury, premium and contemporary segment

Online shopping

Walton Brown, a company of The Lane Crawford Joyce Group, and eCargo Holdings Limited, a China-based eCommerce enabler, has recently announced the formation of a new strategic joint venture. The new joint venture, WWE & Company Limited (“WWE”), is initially capitalised at RMB300 million (US$449,364,15).

It will be led jointly by Thomson Cheng, present President of Walton Brown, and Christopher Lau, present CEO and Founder of ECG. Novel Colour Limited, a subsidiary of The Wharf Limited (“Wharf”), will co-invest and own 50 per cent of WWE.

The newly formed company, WWE, brings together respective partner’s expertise in the Greater China market in particular Walton Brown which is a brand management company that forms part of The Lane Crawford Joyce Group; and eCargo, a logistics and technology company.

Also Read: Figures don’t lie: Here’s why e-commerce is key to retail innovation 

With China’s mobile eCommerce market forecast to reach RMB7.8 trillion (US$1.17 trillion) by 2020, accounting for 74 per cent of all online sales in China, WWE will provide opportunities for international brands to accelerate growth and a viable option for new brands to launch into China for the first time to capture new consumers, leveraging the government’s new regulatory direction to facilitate cross-border transactions.

WWE will launch a social mobile, multi-brand, lifestyle eMarketplace – MyMM.com – in early 2017 offering a range of in-season fashion, beauty and lifestyle products from international brands exclusively to customers in China.

Also Read: 6 tips to survive the cutthroat world of e-commerce

“This partnership is in line with our overall strategy of investing and advancing our mCommerce footprint in China by working together with luxury, premium and contemporary brands to fill the white space that currently exists in the online market,” said Thomson Cheng, President, Walton Brown and Joint-CEO, WWE, in a press statement.

Walton Brown is a full service retail management platform which partners with large-scale international brands to grow their businesses in Greater China by providing total geographic and channel coverage of the market including retail, wholesale, e-commerce, travel retail and outlets.

eCargo connects consumers with brands online and offline through the development and marketing of eCommerce platforms, brand site transactional platforms and major marketplace platforms in China such as Alibaba Group’s Tmall, Tencent’s WeChat and JD.com.

The post Walton Brown and eCargo sign joint venture to launch China’s social mobile shopping platform appeared first on e27.

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