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360buy.com to invest RMB 3.6 bln in logistics: CEO

Feb. 22, 2012 (China Knowledge) - 360buy.com, the largest 3C B2C online retailer in China, plans to spend around RMB 3.6 billion on logistics this year, said Founder and CEO Liu Qiangdong yesterday.

The company, which currently has six distribution centers under construction, will not consider making profits until the logistics network is completed, Liu added.

In 2011, 360buy.com's sales revenue might have reached nearly RMB 30 billion with a stable annual growth of two folds in the past few years, said analysts.

The leading Chinese B2C online retailer has accelerated the expansion of its management team by hiring senior management talents, and rumors circulating that 360buy.com prepare to start its initial public offering.

Liu, however, declared 360buy.com currently has no IPO plans, adding that the firm's annual sales would exceed RMB 100 billion in the near future.

Yesterday, 360buy.com launched its e-book platform to offer customers with more than 80,000 kinds of products, including e-books, digital journals and multimedia e-books. The company said it will not introduce related devices but just focus on the contents of e-books.

Last December, E-Commerce China Dangdang<DANG>, the country's largest online book retailer, launched its e-book channel.






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