Jiuxian Fails to Reach 2012 Sales Target

Netease Tech, 12/05/12

Hao Hongfeng, chairman and president of Chinese wine and spirits B2C e-commerce site Jiuxian.com, today disclosed that while the company will not reach its RMB 2 bln sales target for 2012, sales volume is up over 300% YoY. 40% of sales were through the open platforms of Alibaba Group's B2C e-commerce subsidiary TMall and B2C e-commerce firm Dangdang (NYSE: DANG).

Jiuxian announced today it has formed a strategic partnership with Beijing Sugar Tobacco & Wine Co., Ltd. to serve as the latter's exclusive online reseller of wine and spirits products. Hao said the strategic partnership will expand Jiuxian's product line, and the company plans to partner with other suppliers.

Editor's Note: For more background on this topic, please see "Jiuxian Lands RMB 200 Mln in Third-Round Funding" MD 8/28/12 issue.

Keywords: growth rate e-commerce Internet B2C sales target sales volume Jiuxian Hao Hongfeng alcohol

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