Netease Technologies News, July 10, 2007. Only Products Association announced that the company had signed an acquisition agreement in Shanghai with Shanshan Group Co., Ltd. and Ningbo Xingtong Chuangfu Equity Investment Partnership (Limited Partnership) through Vipshop International Holdings Limited, a wholly-owned subsidiary of Hong Kong, to acquire Shanshan in cash of RMB 2.9 billion. Shanshan Commercial Group Co., Ltd. 100% shares.
Through this acquisition, we will lay out the offline Olay business, and actively explore the online and offline integration of the sale model, to achieve the online and offline integration of the whole channel retail distribution.
Shanshan Business Group Co., Ltd. is located in Ningbo, which is a leading OTLES chain group in the domestic market. The company has opened and operated five OTLES Squares, located in Ningbo, Taiyuan, Harbin, Zhengzhou, Nanchang, and five OTLES Squares are under planning and construction. According to the open market data, Sequoia Olay occupies four of the top 20 domestic sales lists of Alteras in 2018. (An orange)