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Yosen Group opens its first O2O flagship store in Hangzhou

RBR Staff Writer Published 18 May 2016

Yosen Lamapai Hangzhou Flagship Store, also known as "Yosen Lamapai cross-border O2O ("Online to Offline") Experience Store" which was announced late last year, has opened in Hangzhou Binjiang.

Zhejiang Yosen Lamapai E-Commerce Co., Ltd. ("Yosen Lamapai") was established last year by Yosen Group, Inc. (stock symbol: YOSN) ("Yosen", or "the Company") to build a leading B2C+O2O global shopping platform following the company's strategy of "providing one-stop services to the cross border trade while allowing consumers the joy of shopping globally without stepping outside of the border".

Yosen Lamapai's first imported goods O2O experience store is located at B2 of Star City, Star Avenue Phase II, occupying 1,845 square meters (approximately 20,000 square feet). It consists of two areas: one as the imported products supermarket (8000 SKU of global quality products from over 50 countries, covering 90% of the business area) and the other for dining and services. The store carries frozen and live seafood, fruits and vegetables, nutraceuticals, alcohol, beverages, snack food, maternity and baby products, consumer electronics and appliances, women supplies, cosmetics, clothing and accessories.

This flagship experience store is taking a leading position in the domestic market. It not only provides a comfortable shopping environment for imported goods at reasonable prices, but also brings in a food court to enhance the "Integration of Consumption" experience. Because of the strong supply chain relationships that Yosen enjoys with its partners, the prices here are generally lower than those in other stores. The store is expected to bring RMB 150,000 (approximately USD 25,000) in daily sales with a 30% gross margin, and RMB 55 million (approximately USD 9 million) in annual sales.

Mr. Yueyong Liu, Director of Union Developing Group, commented, "We are very happy to have Yosen Lamapai here in Star Avenue. Yosen Lamapai represents an advanced business philosophy and has a strong operating team, which are a perfect fit to the modern shopping mall concept and requirements. Its offline experience feature fills the blank for Star Avenue, and supplements exactly our business development needs. I believe this experience store will bring more joy and convenience to our customers."

Mr. Zhenggang Wang, CEO of Yosen Group, commented, "Yosen Lamapai is committed to introducing modern living concepts to Chinese consumers and building a direct sale platform for international brands. Hangzhou Binjiang has evolved into Hangzhou's first high-tech industry innovation base. It has 5,000 enterprises such as Alibaba and NetEase. We believe Yosen Lamapai's first O2O experience store and its 'shopping globally without stepping outside of the boarder' model will become the new trend for Binjiang people."

Source: Company Press Release