As more Chinese consumers are using mobile shopping to buy international luxury brands, they’ll soon have a new social marketplace to make purchases on their mobile phones.
In early 2017, MyMM.com, a new social mobile multi-brand lifestyle shopping platform will be launched exclusively in China with a wide range of in-season fashion, beauty, and lifestyle products from international brands exclusively to customers in China.
The social shopping platform is a joint product of Walton Brown, a well-established brand management company that forms part of The Lane Crawford Joyce Group, and eCargo, a China-based logistics and technology company.
On July 26, the companies announced the formation of a joint venture called WWE & Company Limited (WWE) that will be leading the operation of MyMM.com.
They’re getting into the market at a time when China’s m-commerce market is rapidly expanding. With more than 667 million internet users—a number higher than any other country, China has the largest e-commerce market in the world with a growing percentage of online shoppers rapidly shifting from PC to m-commerce sales.
Details on the new platform are sparse so far, but WWE says it estimates that it will be able to leverage the Chinese government’s new cross-border e-commerce regulations to provide “profitable opportunities for international brands to accelerate growth and a viable option for new brands to launch into China for the first time to capture new consumers.”
(Source: Jing Daily)