Chinese online shop 360buy makes first foreign push
Published on Oct 18, 2012 2:49 PM
SHANGHAI (REUTERS) - China's biggest online retailer 360buy will start selling directly to overseas buyers on Thursday, the first such move by a major Chinese e-commerce firm, as it struggles with increasing competition at home.
Its move into the global market, where it wants to take on Amazon, will be closely watched by other Chinese e-commerce companies.
An August price war between 360buy, Suning Appliance , and GOME Electrical Appliances Holding, now under investigation by the government, is also pushing the firm to seek new business outside China.
The privately-owned firm's English-language website, en.360buy.com, will open for trade with almost 400,000 new products for sale, from electronic appliances to baby milk powder.
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