360buy investing in logisitics and customer services
BEIJING - 360buy.com, the largest online store in China by market share, plans to spend 8 billion yuan ($1.2 billion) on improving its logistics and customer services over the next five years, after receiving an investment of $500 million from several venture capital companies.
Yi Rangyue, vice-president of Beijing Jingdong Century Trading Co, 360buy's parent company, told China Daily on Wednesday that the company is going to build more logistics centers and place greater emphasis on customer service by cooperating with large PC makers, such as Acer Inc, to improve its competitiveness among numerous online stores.
Founded in 2004, 360buy has a similar business model to Amazon.com Inc. Initially focusing on the PC and cell phone business, the Chinese online retail giant has extended its product range to include electronics, daily essentials, books and cosmetics.
