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Lucas Castillo 2017-05-05

p The spending spree on the power bank rental sector (estimated to be worth more than RMB 10 billion) continues.

U.S.-listed Chinese online retailer Jumei recently acquired a 60% stake in power bank-rental startup Ankerbox (街电科技) for RMB 300 million, adding another case to the string of Chinese firms that are rushing to the country’s budding power bank rental market.

/p p Under the deal, Jumei CEO and founder, Chen Ou, will take up the chairman position at Anker.

/p p Ankerbox is a Shenzhen-based startup growing from an incubation project two years ago by Hunan Oceanwing E-commerce (海翼), the company behind power bank brand Anker.

Oceanwing was founded by a few ex-Googlers in 2011 and engages in research, development, and sales of smart device peripherals.

/p p class "wp-caption-text" Image credit: huanqiu.com /p p Ankerbox allows users to rent power banks for a fixed fee.

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Shane Green 2017-03-06
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Lotte, the Japanese-Korean conglomerate with businesses from confectionery to malls, has found itself in the cross hairs of China’s nationalist mobs last week as online shoppers and internet trolls launched a boycott of the brand for allowing a US missile defence system to be placed on a plot of Lotte land in South Korea.

Responding to the coordinated boycott, some brick-and-mortar retailers and online shopping platforms have removed everything under the Lotte brand – from cosmetics to candies – from their physical and digital shelves.

“We have completely scrubbed the name of Lotte from our website,” Chen Ou, founder and chief executive of China’s biggest cosmetics group-purchasing platform Jumei Youpin, said in a blog post on Sina Weibo last week.

“We‘d rather die than carry its goods in future.”

Lotte operates five department stores and as many as 100 supermarkets in a dozen Chinese provinces since it extended its footprint into the country in 1994.

An estimated 29 per cent of Lotte’s global sales come from China, and Chinese tourists contributed 70 per cent of sales at the group’s duty-free shops in Korea last year.

collect
0
Lucas Castillo 2017-05-05

p The spending spree on the power bank rental sector (estimated to be worth more than RMB 10 billion) continues.

U.S.-listed Chinese online retailer Jumei recently acquired a 60% stake in power bank-rental startup Ankerbox (街电科技) for RMB 300 million, adding another case to the string of Chinese firms that are rushing to the country’s budding power bank rental market.

/p p Under the deal, Jumei CEO and founder, Chen Ou, will take up the chairman position at Anker.

/p p Ankerbox is a Shenzhen-based startup growing from an incubation project two years ago by Hunan Oceanwing E-commerce (海翼), the company behind power bank brand Anker.

Oceanwing was founded by a few ex-Googlers in 2011 and engages in research, development, and sales of smart device peripherals.

/p p class "wp-caption-text" Image credit: huanqiu.com /p p Ankerbox allows users to rent power banks for a fixed fee.

Shane Green 2017-03-06
img

Lotte, the Japanese-Korean conglomerate with businesses from confectionery to malls, has found itself in the cross hairs of China’s nationalist mobs last week as online shoppers and internet trolls launched a boycott of the brand for allowing a US missile defence system to be placed on a plot of Lotte land in South Korea.

Responding to the coordinated boycott, some brick-and-mortar retailers and online shopping platforms have removed everything under the Lotte brand – from cosmetics to candies – from their physical and digital shelves.

“We have completely scrubbed the name of Lotte from our website,” Chen Ou, founder and chief executive of China’s biggest cosmetics group-purchasing platform Jumei Youpin, said in a blog post on Sina Weibo last week.

“We‘d rather die than carry its goods in future.”

Lotte operates five department stores and as many as 100 supermarkets in a dozen Chinese provinces since it extended its footprint into the country in 1994.

An estimated 29 per cent of Lotte’s global sales come from China, and Chinese tourists contributed 70 per cent of sales at the group’s duty-free shops in Korea last year.