Alibaba, the big Chinese e-commerce company is 39% owned by Yahoo! Inc. (NASDAQ: YHOO). That has been OK for Alibaba; Yahoo! has not taken any role in running the company. But, the firm and the Chinese government are a little worried that Microsoft Corp. (NASDAQ: MSFT) will not see it that way if it buys Yahoo!
According to The Wall Street Journal (subscription required), "Alibaba has already been contacted by Chinese regulators seeking information on how it could be affected by a Microsoft purchase." The concern is perverse for two reasons.
China thinks nothing of allowing its sovereign funds to put capital into U.S. financial companies. Congress has already begun to worry in public that the Chinese might exert unwanted pressure on the managements of some of Wall Street's biggest companies. The Chinese cannot have it both ways, buying into American businesses while setting limitations on investments in its country.
What is even more obvious is that one solution is to have Microsoft simply enter into a legal agreement that makes its shares in Alibaba non-voting. This allows the big software company the advantage of an investment that will probably grow in value, and one that it will probably eventually sell back to Alibaba or even to the Chinese government.
Thursday, February 21, 2008
Big plunge on training
Chinese e-commerce firm Alibaba.com Ltd will spend more than 100 million yuan (US$14 million) on recruitment and personnel training this year to expand its market share after raising about US$1.5 billion in a stock sale in Hong Kong late last year.
The company, which runs the largest business-to-business online market place in China, plans to add 3,000 people to its payroll, it said yesterday. Of the new people, 2,000 will join its sales force, and Alibaba will spend an average 20,000 yuan training each sales person.
"We will greatly expand our sales network across the country to be close to where our customers might be," said the Hangzhou, eastern Zhejiang Province-based company in a statement.
Alibaba had 4,400 people as of June last year, of whom 1,900 were working in 29 sales offices on the Chinese mainland. Few of the staff that joined the company last year had left, it said.
Alibaba has about 30 million members, mostly small and medium Chinese companies that use its platform to seek buyers or suppliers in and out of China.
It dominated 67 percent of online business-to-business trading in the third quarter last year, according to Analysys International.
The company, which runs the largest business-to-business online market place in China, plans to add 3,000 people to its payroll, it said yesterday. Of the new people, 2,000 will join its sales force, and Alibaba will spend an average 20,000 yuan training each sales person.
"We will greatly expand our sales network across the country to be close to where our customers might be," said the Hangzhou, eastern Zhejiang Province-based company in a statement.
Alibaba had 4,400 people as of June last year, of whom 1,900 were working in 29 sales offices on the Chinese mainland. Few of the staff that joined the company last year had left, it said.
Alibaba has about 30 million members, mostly small and medium Chinese companies that use its platform to seek buyers or suppliers in and out of China.
It dominated 67 percent of online business-to-business trading in the third quarter last year, according to Analysys International.
Alibaba & Jack Ma: A Brilliant Chinese Entrepreneur
I heard of Alibaba.com and Jack Ma way back in 1998 while I was managing 2 companies for a Singapore business man in Brunei. I was very impressed with Ma business model which to me is a brand of its own. He dares to be different.
Please do not get the idea that just because you are in the US with plenty of resources, you are bound to be successful. Listen to what Jack Ma has to say in his interview that was documented in Inc.com.
There were three reasons why we survived. We had no money, we had no technology, and we had no plan. Every dollar, we used very carefully. The office opened in my apartment. We expanded when we raised money from Goldman Sachs in 1999 and then Softbank Corporation in 2000.
I have written a few posts on this blog about dare to be different and create a brand for yourself : How not to be a follower but a leader, dare to be different, Dared to be different . And seems like Ma has something similar to say : “We never copied a model from the U.S., like a lot of Chinese Internet entrepreneurs did. We focused on product quality. It has to be “click and get it.” If I can’t get it, then it’s rubbish.”
Please do not get the idea that just because you are in the US with plenty of resources, you are bound to be successful. Listen to what Jack Ma has to say in his interview that was documented in Inc.com.
There were three reasons why we survived. We had no money, we had no technology, and we had no plan. Every dollar, we used very carefully. The office opened in my apartment. We expanded when we raised money from Goldman Sachs in 1999 and then Softbank Corporation in 2000.
I have written a few posts on this blog about dare to be different and create a brand for yourself : How not to be a follower but a leader, dare to be different, Dared to be different . And seems like Ma has something similar to say : “We never copied a model from the U.S., like a lot of Chinese Internet entrepreneurs did. We focused on product quality. It has to be “click and get it.” If I can’t get it, then it’s rubbish.”
Saturday, February 16, 2008
Taobao, Eachnet See Flowering Sales On Feb. 14
Saturday, February 16, 2008
0
Sales volume on Alibaba's consumer-to-consumer (C2C) e-commerce site Taobao.com exceeded RMB45 million on both February 13 and 14, reports Beijing Times quoting Taobao and Alibaba online payment subsidiary AliPay statistics. Sales were driven by Valentine's veterans: flowers, chocolate and cosmetics, with 50,000 roses sold on Taobao on Valentine's Day. Cosmetics are among the top most traded items on Taobao.com in terms of 2007 sales volume. Alibaba Group CEO Jack Ma has hopes to reach annual Taobao transaction volume of RMB100 billion this year. Taobao's transaction volume increased 156.3 percent year-on-year to reach RMB43.3 billion in 2007.
eBay (Nasdaq: EBAY) China subsidiary Eachnet also saw holiday gains with cosmetics sales increasing 30 percent and flower and candy sales up 20 percent on February 14, according to an Eachnet executive.
eBay (Nasdaq: EBAY) China subsidiary Eachnet also saw holiday gains with cosmetics sales increasing 30 percent and flower and candy sales up 20 percent on February 14, according to an Eachnet executive.
Wednesday, February 6, 2008
Russian Payment System Links to China
Wednesday, February 6, 2008
0
The Russian Chronopay Company, part of the international Chronopay system, connected China's largest provider of Internet payment services, Alipay. Its 62 million users can now pay for goods and services in Russia, which is expected to increase the sales of Russian software in China by 10 percent and to double Chronopay's turnover. Now the Chinese system has links to Russia and the European.
Chronopay is the largest Russian company that services payments over the Internet. It charges a 1.5-percent commission for its services and handler payments worth $250 million last year. The company belongs to a group of individuals, including its president Pavel Vrublevsky.
Alipay processes 780,000 transactions a day in China. Its annual turnover is nearly €10 billion. It is part of the Alibaba Group, which also includes the taobao.com Internet store and the software designer Alisoft. The controlling package in Alibaba belongs to the Chinese division of Yahoo!
Until now, administrative barriers imposed by the Chinese government had prevented sells to China from abroad through the Internet. Alibaba has met the necessary requirement, however. According to Finam, trade in software between Russia and China was worth $500 million last year. Russian software is expensive by Chinese standards, however.
Chronopay is the largest Russian company that services payments over the Internet. It charges a 1.5-percent commission for its services and handler payments worth $250 million last year. The company belongs to a group of individuals, including its president Pavel Vrublevsky.
Alipay processes 780,000 transactions a day in China. Its annual turnover is nearly €10 billion. It is part of the Alibaba Group, which also includes the taobao.com Internet store and the software designer Alisoft. The controlling package in Alibaba belongs to the Chinese division of Yahoo!
Until now, administrative barriers imposed by the Chinese government had prevented sells to China from abroad through the Internet. Alibaba has met the necessary requirement, however. According to Finam, trade in software between Russia and China was worth $500 million last year. Russian software is expensive by Chinese standards, however.
Alibaba To Customize Software For E-commerce Clients
According to Chinabyte.com, Chinese e-commerce service provider Alibaba will spend several hundred million dollars to seek cooperation with well-known international venture capitalists to help Alisoft's partners solve fund shortages and even help them get listed in Asia or overseas.
Alibaba has formed an alliance with industry giants like Microsoft, Cisco, IBM, Sun, Oracle, Dell and Huawei and released the first software inter-link platform in Asia through which corporate users can obtain Software-as-a-Service.
Wang Tao, president of Alisoft, said that Alisoft's goal is to be the largest software operation platform in the world. He said that to realize this goal, Alibaba would invest over US$100 million to seek cooperation with risk funds and help Alisoft's business partners solve their financial problems.
Alibaba has already formed an Internet marketing platform based on Alibaba.com, Taobao.com, Alipay and Alimama. To offer users better experiences, Alibaba spends over RMB100 million every year on system development. Wang said that different from Taobao.com that began as a free service, Alisoft has a clear profit-making pattern.
Alibaba has formed an alliance with industry giants like Microsoft, Cisco, IBM, Sun, Oracle, Dell and Huawei and released the first software inter-link platform in Asia through which corporate users can obtain Software-as-a-Service.
Wang Tao, president of Alisoft, said that Alisoft's goal is to be the largest software operation platform in the world. He said that to realize this goal, Alibaba would invest over US$100 million to seek cooperation with risk funds and help Alisoft's business partners solve their financial problems.
Alibaba has already formed an Internet marketing platform based on Alibaba.com, Taobao.com, Alipay and Alimama. To offer users better experiences, Alibaba spends over RMB100 million every year on system development. Wang said that different from Taobao.com that began as a free service, Alisoft has a clear profit-making pattern.
Alibaba case study - E-commerce marketplace in China
Alibaba's web presence includes an international marketplace focuses on global importers and exporters and a China marketplace which focuses on suppliers and buyers trading domestically in China.
From a launch in 1999 the marketplaces have a community of more than 24 million registered users and over 255,000 paying members In November 2007, Alibaba launched on the Hong Kong stock exchange and raised HK$13.1 billion (US$1.7 billion) in gross proceeds before offering expenses making it the largest Internet IPO in Asia and the second largest globally.
Jack Ma, the founder of Alibaba, first saw the Internet in 1995 and when he went to Seattle as an interpreter for a trade delegation and a friend showed him the Internet. They searched for the word “beer” on Yahoo and discovered that there was no data about China. We decided to launch a website and registered the name China Pages.
He borrowed $2,000 to set up his first company and at the time knew nothing about personal computers or e-mails or had never touched a keyboard before. He described the experience as "blind man riding on the back of a blind tiger."
Initially, the business did not fare well, since it was a part of China Telecom and Jack Ma reflects that: “everything we suggested, they turned us down , it was like an elephant and an ant.
He resigned, but in 1999, he gathered 18 people in his apartment and spoke to them for two hours about his vision. Everyone put their money on the table, and he got $60,000 to start Alibaba.
He chose Alibaba as the name since the name was easy to spell and associated with "Open, Sesame," the command that Ali Baba used to open doors to hidden treasures in One Thousand and One Nights.
During the dot-com bubble, there were layoffs, such that by 2002 there was only enough cash to survive for 18 months. We had a lot of free members using our site, and we didn't know how we'd make money. But they then developed a product for China exporters to meet U.S. buyers online which Ma said saved the company. By the end of 2002, we made $1 in profits! Each year since it has improved in profitability to the position where it was launched on the stock market.
Today, Jack Ma's vision is to build an e-commerce ecosystem that allows consumers and businesses to do all aspects of business online. They are partnering with Yahoo and have launched online auction and payment businesses. His vision is expansive, he says: “I want to create one million jobs, change China's social and economic environment, and make it the largest Internet market in the world”.
Sources: Ali Baba
Microsoft-Yahoo Deal May Benefit Alibaba.com But Hurt Baidu
HONG KONG -(Dow Jones)- A Microsoft-Yahoo combination may benefit Hong Kong- listed Alibaba.com (1688.HK) but could heighten competition for China's leading search engine Baidu.com Inc. (BIDU), analysts said.
Last Friday, Microsoft Corp. (MSFT) unveiled an offer to buy Yahoo! Inc. ( YHOO) for $44.6 billion, a move designed to create a more credible competitor to industry leader Google Inc. (GOOG) and deepen Microsoft's position in the market for online business software. "Who would be the biggest winner? The Alibaba Group. Who would be the biggest loser? Baidu," Citigroup analyst Jason Brueschke wrote in a Monday report.
Yahoo owns 39% of Alibaba Group, the parent of Alibaba.com, which provides e- commerce to small and medium-sized enterprises in China and globally.
"Baidu provides search monetization services for Microsoft's MSN China properties. We assume that Microsoft might, if a transaction proceeds, switch this contract to the Yahoo-invested Alibaba group and estimate that the negative impact on Baidu's net revenue could be in the very low single digit percentages, " Goldman Sachs said in a report Monday.
Deutsche Bank analyst Alan Hellawell said a Microsoft-Yahoo combination would create a more aggressive advertising syndication network in China which could present more competition for Baidu.
"We believe Alibaba.com and its unlisted group peers may offer the combined Microsoft/Yahoo entity the best leverage in achieving a previously largely elusive foothold in the China market," he said.
Shares in Alibaba.com surged in early morning trade in Hong Kong as investors weighed in on the potential benefits a Microsoft-Yahoo deal could bring the company. At the midday break, its shares were up 17% at HK$20.95. Shares in Baidu, which are listed on Nasdaq, closed Friday's session, down 3.7% at US$ 269.59.
Alibaba.com spokeswoman Sovanna Fung declined to comment. Baidu officials weren't immediately available for comment.
But some analysts downplayed any negative impact a Microsoft-Yahoo deal might bring to Baidu, given the company's dominant market share in China.
BNP Paribas Asia Securities analyst Eric Wen said while a Microsoft-Yahoo combination could increase competition in China's Internet search engine market, it won't change Baidu's dominance.
"I think the deal should only have little impact on Baidu's traffic and revenue. It's difficult for Microsoft and Yahoo to challenge Baidu's leading position," said Wen, who rates Baidu a "buy" and has a price target of US$480.
According to market research firm Analysys International, Baidu's share of the search market in China as measured by revenue was 60.1% in the fourth quarter of 2007. Google came in second place with 25.9%, while Yahoo China was third with 9.6% of the market.
Some analysts also said Hong Kong-listed Tencent Holdings Ltd. (0700.HK) and Nasdaq-listed Netease.com Inc. (NTES) might see increased competition.
"If Alibaba Group were to take operational control of Microsoft's China assets (MSN, Hotmail), then we could see some increased competition due to better execution by Alibaba," said Citigroup's Brueschke.
According to Citigroup, Microsoft's Windows Live Messenger ranks number two in instant messaging in China to Tencent's QQ, which is number one with 75%. NetEase is the dominant provider in e-mail.
Brueschke also said Microsoft's stake in the social networking site, Facebook, could affect social networking in China where Tencent dominates.
Tencent shares are up 5.7% at HK$50.15 at the midday break.
Last Friday, Microsoft Corp. (MSFT) unveiled an offer to buy Yahoo! Inc. ( YHOO) for $44.6 billion, a move designed to create a more credible competitor to industry leader Google Inc. (GOOG) and deepen Microsoft's position in the market for online business software. "Who would be the biggest winner? The Alibaba Group. Who would be the biggest loser? Baidu," Citigroup analyst Jason Brueschke wrote in a Monday report.
Yahoo owns 39% of Alibaba Group, the parent of Alibaba.com, which provides e- commerce to small and medium-sized enterprises in China and globally.
"Baidu provides search monetization services for Microsoft's MSN China properties. We assume that Microsoft might, if a transaction proceeds, switch this contract to the Yahoo-invested Alibaba group and estimate that the negative impact on Baidu's net revenue could be in the very low single digit percentages, " Goldman Sachs said in a report Monday.
Deutsche Bank analyst Alan Hellawell said a Microsoft-Yahoo combination would create a more aggressive advertising syndication network in China which could present more competition for Baidu.
"We believe Alibaba.com and its unlisted group peers may offer the combined Microsoft/Yahoo entity the best leverage in achieving a previously largely elusive foothold in the China market," he said.
Shares in Alibaba.com surged in early morning trade in Hong Kong as investors weighed in on the potential benefits a Microsoft-Yahoo deal could bring the company. At the midday break, its shares were up 17% at HK$20.95. Shares in Baidu, which are listed on Nasdaq, closed Friday's session, down 3.7% at US$ 269.59.
Alibaba.com spokeswoman Sovanna Fung declined to comment. Baidu officials weren't immediately available for comment.
But some analysts downplayed any negative impact a Microsoft-Yahoo deal might bring to Baidu, given the company's dominant market share in China.
BNP Paribas Asia Securities analyst Eric Wen said while a Microsoft-Yahoo combination could increase competition in China's Internet search engine market, it won't change Baidu's dominance.
"I think the deal should only have little impact on Baidu's traffic and revenue. It's difficult for Microsoft and Yahoo to challenge Baidu's leading position," said Wen, who rates Baidu a "buy" and has a price target of US$480.
According to market research firm Analysys International, Baidu's share of the search market in China as measured by revenue was 60.1% in the fourth quarter of 2007. Google came in second place with 25.9%, while Yahoo China was third with 9.6% of the market.
Some analysts also said Hong Kong-listed Tencent Holdings Ltd. (0700.HK) and Nasdaq-listed Netease.com Inc. (NTES) might see increased competition.
"If Alibaba Group were to take operational control of Microsoft's China assets (MSN, Hotmail), then we could see some increased competition due to better execution by Alibaba," said Citigroup's Brueschke.
According to Citigroup, Microsoft's Windows Live Messenger ranks number two in instant messaging in China to Tencent's QQ, which is number one with 75%. NetEase is the dominant provider in e-mail.
Brueschke also said Microsoft's stake in the social networking site, Facebook, could affect social networking in China where Tencent dominates.
Tencent shares are up 5.7% at HK$50.15 at the midday break.
BIMTECH hosts summit on SMEs
The Small and Medium Enterprises (SME) sector is called the backbone of the Indian economy.
To bridge the knowledge gap between Indian SMEs and the government policies, Birla Institute of Management Technology (BIMTECH), Greater Noida organized SMEs Summit 2008 on the theme 'Indian SMEs In Exports' on February 2 in Delhi. The Summit was inaugurated by Ashwani Kumar, Minister of State for Industry, Govt. of India.
The summit highlighted the Indian SME sector about the policies, which have been formed by the government and how the SMEs can use them for their benefit. It also brought out key aspects on how to increase the capability of Indian SMEs and to provide right information to move ahead in the global arena. Inaugurating the Summit, Chief Guest, Sh. Ashwani Kumar, Minister of State for Industry said, "When the Indian economy is currently growing at 9% and the future growth expected more or less on the same line, the Micro, Small and Medium Enterprises (SME) will give all thrust of development to make India the 3rd largest economic power by 2025 overtaking Germany."
The summit involved three plenary sessions included themes like Governmental infrastructure and institutional framework, environmental and social issues, sector specific issues and financial issues from SME viewpoint.
The speakers on the occasion included Dr. H. Chaturvedi, Director BIMTECH, Dr. R K Dhawan, chairman FIEO northern region, Mr. Jawhar Sircar, Additional Secretary, ministry of industry and commerce, Mr. Bikki Khosla, CEo, Tradeindia.com, Mr. Kishore Balaji, Microsoft India Ltd and Dr. H.P. Kumar, Chairman & MD, NS.
On the occasion, Dr. H. Chaturvedi, Director BIMTECH said, "SMEs sector has tremendous potential. The capabilities of SMEs to compete in the International markets is reflected in its share of about 35% in the national exports, but this sector is still held back from achieving its full potential because of various problems, such as lack of information and awareness."
Dr. Dhawan pointed out some of the challenges facing the SMEs in terms of finance, quality up gradation and taxation where he requested the intervention of government.
Mr. Sircar highlighted on slew of policy initiatives, which the government is planning to come out with in the three most important areas as presented above.
To bridge the knowledge gap between Indian SMEs and the government policies, Birla Institute of Management Technology (BIMTECH), Greater Noida organized SMEs Summit 2008 on the theme 'Indian SMEs In Exports' on February 2 in Delhi. The Summit was inaugurated by Ashwani Kumar, Minister of State for Industry, Govt. of India.
The summit highlighted the Indian SME sector about the policies, which have been formed by the government and how the SMEs can use them for their benefit. It also brought out key aspects on how to increase the capability of Indian SMEs and to provide right information to move ahead in the global arena. Inaugurating the Summit, Chief Guest, Sh. Ashwani Kumar, Minister of State for Industry said, "When the Indian economy is currently growing at 9% and the future growth expected more or less on the same line, the Micro, Small and Medium Enterprises (SME) will give all thrust of development to make India the 3rd largest economic power by 2025 overtaking Germany."
The summit involved three plenary sessions included themes like Governmental infrastructure and institutional framework, environmental and social issues, sector specific issues and financial issues from SME viewpoint.
The speakers on the occasion included Dr. H. Chaturvedi, Director BIMTECH, Dr. R K Dhawan, chairman FIEO northern region, Mr. Jawhar Sircar, Additional Secretary, ministry of industry and commerce, Mr. Bikki Khosla, CEo, Tradeindia.com, Mr. Kishore Balaji, Microsoft India Ltd and Dr. H.P. Kumar, Chairman & MD, NS.
On the occasion, Dr. H. Chaturvedi, Director BIMTECH said, "SMEs sector has tremendous potential. The capabilities of SMEs to compete in the International markets is reflected in its share of about 35% in the national exports, but this sector is still held back from achieving its full potential because of various problems, such as lack of information and awareness."
Dr. Dhawan pointed out some of the challenges facing the SMEs in terms of finance, quality up gradation and taxation where he requested the intervention of government.
Mr. Sircar highlighted on slew of policy initiatives, which the government is planning to come out with in the three most important areas as presented above.
Global Sources Direct Leverages China’s Booming Diamond Market
NewswireToday - /newswire/ - Shenzhen, Guangdong, China, 01/31/2008 - Global Sources Direct leverages tax exemption, a strong International Diamond and Jewelry Exchange (IDEX) supplier network and the growth in skilled Chinese artisans to offer direct-from-the-mine prices on diamond jewelry (NASDAQ: GSOL).
In collaboration with a network of IDEX-affiliated suppliers, Global Sources Direct has launched an online diamond department to provide small retailers with diamond jewelry at China prices.
General Manager of Global Sources Direct, Paul Tittmann, said: “China’s tax exemption on diamond imports went into effect in July 2006. That, in combination with rapid growth in domestic production which now tops $14 billion, has kept China diamond prices low.
“Meanwhile, there’s been an explosion in the number of skilled Chinese jewelry artisans which has dramatically raised the quality of China’s diamond jewelry.
“With over 50 products already available, and many more expected by spring, we’re confident this will be a strong growth category in 2008. Small jewelry retailers can now, for the first time, purchase premium designs of high-quality diamonds at low China prices.”
General Manager of the Shenzhen-based independent jewelry consultancy, JPIJ International, Engin Kugu, said: “This growing sector marries modern fashion trends with unique aspects of Chinese culture.
“Thanks to rapid improvements in China’s jewelry manufacturing and processing, we’re seeing the industry evolving from ‘Chinese-manufacturing’ to ‘Chinese-creating.’”
In a 2006 report, IDEX showed online luxury jewelry sales as representing the equivalent of 2,000 independent stores valued at $1 million each. Online B2C retailers are projected to hold 7.7% market share by 2010, led by premier companies like Blue Nile.
Diamond Jewelry Enhances Other Jewelry Offerings at Global Sources Direct
Global Sources Direct’s Bali Originals, hand-crafted jewelry benefiting from the US-based Kearny Alliance’s “Aid Through Trade” sustainable job creation program, as well as their range of products made from authentic imported Swarovski crystal, have all been shipping in continually increasing quantities due to buyers’ increasing demand for luxury jewelry. Both lines are expected to see continued growth in 2008.
Buyers interested in purchasing diamond jewelry through Global Sources Direct should visit the website.
Specialized Global Sources Websites, Trade Magazines and Face-to-Face EventsGlobal Sources Direct is one part of the company's sourcing and product information services which include Global Sources Online (GlobalSources.com), Global Sources Magazines and the China Sourcing Fairs (ChinaSourcingFair.com).
In collaboration with a network of IDEX-affiliated suppliers, Global Sources Direct has launched an online diamond department to provide small retailers with diamond jewelry at China prices.
General Manager of Global Sources Direct, Paul Tittmann, said: “China’s tax exemption on diamond imports went into effect in July 2006. That, in combination with rapid growth in domestic production which now tops $14 billion, has kept China diamond prices low.
“Meanwhile, there’s been an explosion in the number of skilled Chinese jewelry artisans which has dramatically raised the quality of China’s diamond jewelry.
“With over 50 products already available, and many more expected by spring, we’re confident this will be a strong growth category in 2008. Small jewelry retailers can now, for the first time, purchase premium designs of high-quality diamonds at low China prices.”
General Manager of the Shenzhen-based independent jewelry consultancy, JPIJ International, Engin Kugu, said: “This growing sector marries modern fashion trends with unique aspects of Chinese culture.
“Thanks to rapid improvements in China’s jewelry manufacturing and processing, we’re seeing the industry evolving from ‘Chinese-manufacturing’ to ‘Chinese-creating.’”
In a 2006 report, IDEX showed online luxury jewelry sales as representing the equivalent of 2,000 independent stores valued at $1 million each. Online B2C retailers are projected to hold 7.7% market share by 2010, led by premier companies like Blue Nile.
Diamond Jewelry Enhances Other Jewelry Offerings at Global Sources Direct
Global Sources Direct’s Bali Originals, hand-crafted jewelry benefiting from the US-based Kearny Alliance’s “Aid Through Trade” sustainable job creation program, as well as their range of products made from authentic imported Swarovski crystal, have all been shipping in continually increasing quantities due to buyers’ increasing demand for luxury jewelry. Both lines are expected to see continued growth in 2008.
Buyers interested in purchasing diamond jewelry through Global Sources Direct should visit the website.
Specialized Global Sources Websites, Trade Magazines and Face-to-Face EventsGlobal Sources Direct is one part of the company's sourcing and product information services which include Global Sources Online (GlobalSources.com), Global Sources Magazines and the China Sourcing Fairs (ChinaSourcingFair.com).
Global Sources Launches Comprehensive Repackaging of Services for Export Suppliers
HONG KONG, Jan. 30 /Xinhua-PRNewswire-FirstCall/ -- Global Sources has launched a comprehensive range of new marketing packages for export suppliers. The program is based on a system that ranks suppliers according to the depth of verified product and company information that they provide.
At the high-end, the Six-Star Package is designed to provide suppliers with an integrated lead generation and brand building campaign that includes two forms of third-party verification data for an annual price of RMB615,000 (approximately US$85,400). With the One-Star Package, suppliers can take advantage of an introductory twelve-month offer for RMB38,880 (approximately US$5,400). At a minimum, all verified suppliers would have been visited at least three times and their content would have been checked by Global Sources.
Global Sources' chairman and CEO, Merle A. Hinrichs, said: "The buyers that we focus on want export-capable suppliers. This new format gives these buyers the ability to more effectively screen and filter potential suppliers - - and it gives suppliers a powerful new way to differentiate from their competitors. The entry level One-Star Package we are introducing was created to give new suppliers the chance to experience the quality of our services, and what we believe is the highest quality buyer community available in the market."
Hinrichs continued: "To support the new services, the company is in the process of significantly expanding its sales representation. In mainland China, the company projects the number of sales representative team members to increase by approximately 40% to a total of 1,080 by the end of June."
The new "Six Star" system is now live on Global Sources Online ( http://www.globalsources.com ) and is the latest addition to the vertical search engine launched in October 2007. Unique in the market, the site offers buyers comprehensive search results from the Internet and the ability to search for "verified" and "unverified" suppliers.
More information about Global Sources' new Six-Star structure is available at Global Sources Online ( http://www.globalsources.com/SITE/QUALITY.HTM ). Suppliers interested in signing up for Global Sources export marketing services should visit: http://www.sellproducts.globalsources.com .
At the high-end, the Six-Star Package is designed to provide suppliers with an integrated lead generation and brand building campaign that includes two forms of third-party verification data for an annual price of RMB615,000 (approximately US$85,400). With the One-Star Package, suppliers can take advantage of an introductory twelve-month offer for RMB38,880 (approximately US$5,400). At a minimum, all verified suppliers would have been visited at least three times and their content would have been checked by Global Sources.
Global Sources' chairman and CEO, Merle A. Hinrichs, said: "The buyers that we focus on want export-capable suppliers. This new format gives these buyers the ability to more effectively screen and filter potential suppliers - - and it gives suppliers a powerful new way to differentiate from their competitors. The entry level One-Star Package we are introducing was created to give new suppliers the chance to experience the quality of our services, and what we believe is the highest quality buyer community available in the market."
Hinrichs continued: "To support the new services, the company is in the process of significantly expanding its sales representation. In mainland China, the company projects the number of sales representative team members to increase by approximately 40% to a total of 1,080 by the end of June."
The new "Six Star" system is now live on Global Sources Online ( http://www.globalsources.com ) and is the latest addition to the vertical search engine launched in October 2007. Unique in the market, the site offers buyers comprehensive search results from the Internet and the ability to search for "verified" and "unverified" suppliers.
More information about Global Sources' new Six-Star structure is available at Global Sources Online ( http://www.globalsources.com/SITE/QUALITY.HTM ). Suppliers interested in signing up for Global Sources export marketing services should visit: http://www.sellproducts.globalsources.com .
Global Sources Launches Verification Service for Export Suppliers in China
Hong Kong — February 1, 2008 — Asia supply specialist Global Sources has launched a new program offering export suppliers in China a way to have their products and company information verified and providing buyers with a way to screen and filter potential suppliers.
The program is based on a system that ranks suppliers according to the depth of verified product and company information that they provide. At the high-end, the "Six-star Package" provides suppliers with two forms of third-party verification data for an annual price of approximately $85,400.
On the low end, the "One-star Package" provides suppliers with an introductory 12-month offer for approximately $5,400. At a minimum, all verified suppliers would have been visited at least three times and their content would have been checked by Global Sources, the company said.
"The buyers that we focus on want export-capable suppliers," said Merle A. Hinrichs, Global Sources' chairman and CEO. "This new format gives these buyers the ability to more effectively screen and filter potential suppliers, and it gives suppliers a powerful new way to differentiate from their competitors."
Hinrichs said that the entry-level package was created to give new suppliers the chance to experience Global Sources' services and to test the waters with his company's buyer community. Global Sources is positioning the new offering as a lead-generation and brand-building program for export suppliers.
Global Sources said that the company is in the process of expanding its sales representation to support the new services. "In mainland China, the company projects the number of sales representative team members to increase by approximately 40 percent to a total of 1,080 by the end of June," Hinrichs said.
The new "Six Star" system is now live at www.globalsources.com, the vertical search engine launched in October 2007. The site offers buyers search results from the Internet and the ability to search for "verified" and "unverified" suppliers.
More information about the program is available at www.globalsources.com/SITE/QUALITY.HTM. Suppliers interested in signing up for Global Sources export marketing services can get more information at www.sellproducts.globalsources.com.
The program is based on a system that ranks suppliers according to the depth of verified product and company information that they provide. At the high-end, the "Six-star Package" provides suppliers with two forms of third-party verification data for an annual price of approximately $85,400.
On the low end, the "One-star Package" provides suppliers with an introductory 12-month offer for approximately $5,400. At a minimum, all verified suppliers would have been visited at least three times and their content would have been checked by Global Sources, the company said.
"The buyers that we focus on want export-capable suppliers," said Merle A. Hinrichs, Global Sources' chairman and CEO. "This new format gives these buyers the ability to more effectively screen and filter potential suppliers, and it gives suppliers a powerful new way to differentiate from their competitors."
Hinrichs said that the entry-level package was created to give new suppliers the chance to experience Global Sources' services and to test the waters with his company's buyer community. Global Sources is positioning the new offering as a lead-generation and brand-building program for export suppliers.
Global Sources said that the company is in the process of expanding its sales representation to support the new services. "In mainland China, the company projects the number of sales representative team members to increase by approximately 40 percent to a total of 1,080 by the end of June," Hinrichs said.
The new "Six Star" system is now live at www.globalsources.com, the vertical search engine launched in October 2007. The site offers buyers search results from the Internet and the ability to search for "verified" and "unverified" suppliers.
More information about the program is available at www.globalsources.com/SITE/QUALITY.HTM. Suppliers interested in signing up for Global Sources export marketing services can get more information at www.sellproducts.globalsources.com.
Friday, February 1, 2008
RSE Wins Three Inaugural Alibaba Goldfinger Awards
Friday, February 1, 2008
0
REED SINOPHARM, a joint venture between China National Pharmaceutical Group (SINOPHARM) and Reed Exhibitions, is pleased to announce that three of its flagship shows "China International Medical Equipment Fair" (CMEF), "PharmChina" and "API China" received inaugural Alibaba Goldfinger Awards in their respective categories of medical equipment, medical and pharmaceutical finished products and pharmaceutical ingredients. The awards were presented on January 12, 2008 in Hangzhou at the inaugural Goldfinger Awards for China Leading Industry Brands Exhibitions ceremony. This ceremony is co-organized by Alibaba and the Asia Event Fortune Forum.
Alibaba.com is a leading international e-commerce brand and the most established online marketplace for Chinese traders to connect with suppliers from around the world. The initiation of the first Goldfinger Awards this year sets an elevated benchmark for domestic trade shows and will help to strengthen China's reputation as the key destination for exhibitions that boast world-class standards.
"The awards are a strong affirmation from the industry and our customers," said Mr. Dong Wei Ping, General Manager of Reed Sinopharm Exhibitions (RSE). "We are very encouraged by the industry's confidence in our events as effective business-matchmaking and networking platforms where key industry players can congregate as a community."
The four-month selection process included a rigorous evaluation that scrutinized nearly 40 different marketplace sectors including medical, chemical, consumer goods, furniture, construction materials, and real estate among others. A professional panel comprising trade media specialists and trade exhibition experts voted and assigned points for each nominated show. In addition, industry players cast their votes online through Alibaba's online portal. Nearly 24 million buyers and sellers voted.
The expert panel and polled industry players accounted for 40% and 50% respectively of the votes cast. And the remaining 10% of votes were determined by the extent of media coverage and influence to decide the top three industry brand exhibitions in China for multiple industry segments. Key criteria for evaluation included the influence of the show in the industry, its level of internationalization, brand value, reputation, the industry's level of loyalty to the show and its social influence. These measurable and objective considerations distinguish Alibaba's Goldfinger honors from most other trade exhibitions awards. For more information about the poll, please visit http://www.alibaba.com.
The award ceremony attracted over 400 professionals from exhibition management companies, venue operators and exhibition service providers across China as well as government leaders from Chinese cities with leading exhibition facilities.
"We are delighted and honored by the industry recognition," said Paul Lee, Vice President, Reed Sinopharm Exhibitions. "This will further propel RSE to continue to fulfill the needs of the industry and customers by striving toward greater innovation, leveraging technology, understanding customers' objectives, and staying close to them through research and regular, effective contact."
About Reed Sinopharm Exhibitions
Reed Sinopharm Exhibitions Co. Ltd (Reed Sinopharm) is a joint venture between Sinopharm, the largest state owned pharmaceutical group in China, and Reed Exhibitions, the world's leading organizer of trade and consumer exhibitions with a portfolio of over 430 events in 32 countries. As the leading professional, specialized trade show and conference business organizer of medical, healthcare and pharmaceutical events in China, Reed Sinopharm covers the entire supply chain and is dedicated to the medical, pharmaceutical and healthcare industry sectors. Reed Sinopharm organizes and manages numerous exhibitions and fairs that rank among the largest in its niche sectors worldwide.
Alibaba.com is a leading international e-commerce brand and the most established online marketplace for Chinese traders to connect with suppliers from around the world. The initiation of the first Goldfinger Awards this year sets an elevated benchmark for domestic trade shows and will help to strengthen China's reputation as the key destination for exhibitions that boast world-class standards.
"The awards are a strong affirmation from the industry and our customers," said Mr. Dong Wei Ping, General Manager of Reed Sinopharm Exhibitions (RSE). "We are very encouraged by the industry's confidence in our events as effective business-matchmaking and networking platforms where key industry players can congregate as a community."
The four-month selection process included a rigorous evaluation that scrutinized nearly 40 different marketplace sectors including medical, chemical, consumer goods, furniture, construction materials, and real estate among others. A professional panel comprising trade media specialists and trade exhibition experts voted and assigned points for each nominated show. In addition, industry players cast their votes online through Alibaba's online portal. Nearly 24 million buyers and sellers voted.
The expert panel and polled industry players accounted for 40% and 50% respectively of the votes cast. And the remaining 10% of votes were determined by the extent of media coverage and influence to decide the top three industry brand exhibitions in China for multiple industry segments. Key criteria for evaluation included the influence of the show in the industry, its level of internationalization, brand value, reputation, the industry's level of loyalty to the show and its social influence. These measurable and objective considerations distinguish Alibaba's Goldfinger honors from most other trade exhibitions awards. For more information about the poll, please visit http://www.alibaba.com.
The award ceremony attracted over 400 professionals from exhibition management companies, venue operators and exhibition service providers across China as well as government leaders from Chinese cities with leading exhibition facilities.
"We are delighted and honored by the industry recognition," said Paul Lee, Vice President, Reed Sinopharm Exhibitions. "This will further propel RSE to continue to fulfill the needs of the industry and customers by striving toward greater innovation, leveraging technology, understanding customers' objectives, and staying close to them through research and regular, effective contact."
About Reed Sinopharm Exhibitions
Reed Sinopharm Exhibitions Co. Ltd (Reed Sinopharm) is a joint venture between Sinopharm, the largest state owned pharmaceutical group in China, and Reed Exhibitions, the world's leading organizer of trade and consumer exhibitions with a portfolio of over 430 events in 32 countries. As the leading professional, specialized trade show and conference business organizer of medical, healthcare and pharmaceutical events in China, Reed Sinopharm covers the entire supply chain and is dedicated to the medical, pharmaceutical and healthcare industry sectors. Reed Sinopharm organizes and manages numerous exhibitions and fairs that rank among the largest in its niche sectors worldwide.
Subscribe to:
Posts (Atom)
Posts
