China 3C Group gets 3C800.com exclusive

China 3C Group, parent of Zhejiang Yong Xin Digital Technology Co. Ltd, has signed a letter of intent to be the exclusive supplier of 3C800.com, which specializes in business-to-consumer products.

The Zhejiang-based company, a wholesale distributor and retailer computers, communication products and consumer electronics, reported year-on-year revenue growth of 36% in the third quarter of 2007, while net profit for the Jan-Sept period leaped 190% to US$18.5 million, from US$6.4 million in 2006. China 3C currently has 900 retail outlets in Eastern China and counts leading institutions such as Zhejiang University among its clients.

China 3C's CEO Wang Zhenggang said the partnership is likely to expand the company's customer base by leveraging on existing retail, logistics and distribution capabilities, while enhancing its reputation as a leader in the 3C products market. Owned by Hangzhou Xituo Network Technology Ltd, a leading Chinese e-commerce retailer of 3C products, 3C800.com aims to revolutionize the virtual retail shopping experience by using 3D technology.

Wang also said that the cooperation with 3C800.com has greatly minimized the capital risk that comes with building a retail site from scratch, as 3C has been exploring options to build a stronger online presence to complement retail outlets, which are numbering close to 1,000.