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Globalegrow to invest $116m and open over 1,000 stores in China

Published 04 May 2017

Globalegrow has revealed its plans to expand its cross-border e-commerce business in the Chinese e-commerce market and help overseas suppliers to develop their business in the country.

Globalegrow's Wzhouhui, one of the fastest growing cross-border e-commerce platforms in China, says it plans to invest $116 million to purchase products from international suppliers and to open more than 1000 new offline stores in 2017. 

According to Chinese research company iiMedia, Chinese cross-border e-commerce is projected to account for 8.8 trillion yuan (US$1.28 trillion) in 2018 as the total number of cross-border shoppers in China is expected to rise from 410 million in 2016 to 740 million in 2018. This growth rate of 78.3 percent in 2016 is estimated to slow to 27.6 percent in 2018. 

Globalegrow seeks deep cooperation with overseas suppliers to embrace the opportunities in the booming Chinese market. "We believe that products listed in cross-border e-commerce marketplaces are more attractive to customers due to lower taxes. Moreover, offline stores, where customers can evaluate products before purchasing, improve the shopping experience, especially for imported products which many consumers may not be very familiar with," said Emma Zhang, marketing manager of Wzhouhui.

Since its launch of 2015, Wzhouhui has cooperated with over 1,000 overseas suppliers including Vitaco and Karicare from New Zealand, Murray Goulburn and Pharmacare from Australia, and Apo-rot and Rossmann from Germany.

Emma said, "Globalegrow has a strong team with rich experience and a comprehensive supply chain and logistics system. Wzhouhui achieved sales revenue of US$61.3 million and opened nearly one hundred physical stores in 2016. We are confident that the company will double its sales in 2017 to reachUS$145 million."

Source: Company Press Release