Posted on July 23, 2018 by staff

Chinese eCommerce giant plans expansion into Europe


Chinese eCommerce website has announced plans to expand in Europe.

The company, previously known as 360buy, aims to have finalised its strategy for entering the market by the end of the year, its chief executive told a German newspaper.

“For me it’s no longer just about selling products from Germany in China. I would also like to sell products in Europe,” said Richard Liu, according to German newspaper the Handelsblatt Daily.

“We have just got to clarify the details.”

The company plans to open an office in Germany by the end of 2018, according to the newspaper.

The company, founded in 2004, has the largest drone delivery system in the world and is a major competitor to Alibaba-run B2C eCommerce website Tmall.

It has invested heavily in new technology, including its own propriety platform to support its rapid growth.

The company is now investing heavily in logistics and offline retail to expand beyond its base in China and Southeast Asia and establish a meaningful presence in US and European markets.