360buy.com
360buy.com, a Chinese retail e-commerce business company, has established a logistics subsidiary in Shanghai to improve distribution quality and efficiency.
360buy.com invested RMB 20 million in the logistics subsidiary, which will distribute orders in eastern China and Shanghai, areas that account for 40% of the company’s total orders.
According to HKTDC the company is also building 20 distribution stations in cities such as Tianjin, Wuhan, Jinan, Xian and Chongqing to enhance its distribution network, which covers 200 Chinese cities.
In February, 360buy.com received fund injections of US$21 million from Capital Today Group, Bull Capital Partners and a private company of Francis Leung, a famous investment banker in Asia. The company promised to use 70% of the funds to improve logistics.