Baozun Inc., the leading brand ecommerce solutions provider in China, today announced that it has signed a strategic cooperation agreement with CJ O Shopping, reports Yahoo Finance.
CJ O Shopping is a division of the CJ Group, a Korean culture and lifestyle conglomerate, to establish an ecommerce joint venture. The joint venture will leverage each company’s respective market leading position and resources in ecommerce operations, marketing and logistics to bring popular Korea brands to Chinese consumers.
Baozun will take a controlling 51% stake in the joint venture and leverage its position as China’s leading brand ecommerce solutions provider.
Through its division CJ O Shopping, CJ Corporation will be responsible for brand selection and launch in China.
CJ Corporation History
Founded in 1953, CJ Corporation is the largest international comprehensive culture and life-style conglomerate in Korea with a diverse number of brands under management across a variety of industries including a number of brands that have been successfully launched in China such as food and food services, pharmaceuticals and biotechnology.
The joint venture will act as an important channel for the introduction of Korean products to Chinese consumers and potentially Chinese products to Korean consumers in the future.
Baozun helps brands execute effective ecommerce strategies. This partnership will leverage Baozun’s know-how in operations with CJ O Shopping’s vast brand network. Korean brands will be able to test the waters of selling online to Chinese consumers without having to invest in a full blown local strategy.
A version of this appeared in Yahoo Finance on July 28. Read the full version here.