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IBMC China AG Opens Online Store on Taobao.com

IBMC China AG Opens Online Store on Taobao.com

Shanghai, China January 20, 2009 – Taobao.com, China’s most popular auction site, will launch a new platform for eligible major domestic and overseas consumer product makers and retailers to sell directly to Chinese buyers.

The new system – to complement the existing public site – has been established to win customers from offline store chains such as Wal-Mart and B&Q.

The Taobao Shopping Mall will charge retailers based on their transaction volume. The Website, which has beat eBay Inc in China for its free service, is trying to be profitable and pave the way for going public.

“We want to make it a source of quality products for buyers of good taste, like traditional department stores, with guaranteed quality, good compensation policies and more convenient payment methods,” an official with Taobao said yesterday.

Consumer-to-consumer (C2C) trading accounted for most of its 15.7 billion yuan (US$2 billion) turnover in the first half last year, triple the volume compared with the same period last year.

The target is to have about 700 stores available to buyers for the launch of mall.taobao.com, which will be parallel to Taobao’s C2C business that is still free to all users.

The new platform is an upgrade of Taobao’s brand and shopping mall channel, also a business-to-consumer (B2C) platform – the difference lies in higher entrance thresholds.

“We are so pleased that Taobao.com invited our company to be one of their online stores. This is evidence that IBMC’s brands are considering a high end import product. With the most popular C2C website in China, IBMC brand will have tremendous free publicity in the consumer’s awareness.” by Frank Yuan, CEO of IBMC.

ABOUT IBMC CHINA AG (IBMC) http://www.ibmcchina.de

IBMC purpose is to open multiple International fashion brands franchise stores all over China. Acting as the master licensee for international fashion brands and retailers, and leveraging its brands recognition, designs, marketing experience and skills, IBMC will open multiple stores for each brand. IBMC stores will either be company owned or franchisee operations to penetrate China, the fastest growing economy in the world. These stores may be in the form of free standing, independent stores or stores/corners within large department stores.

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