Chinese B2C e-commerce websites Dangdang.com and Yhd.com announced that the two parties have reached a strategic cooperation to enter each other's open platforms while their respective official flagship stores have opened to netizens.
Dangdang.com's flagship store on Yhd.com focuses on the sales of books; while the flagship store of Yhd.com mainly sells food and beverages.
Yu Gang, chairman of Yhd.com, said that it is not enough to depend on their own channels to expand product categories, so other vendors who enter their platform will help enrich the products of Yhd.com. At present, Yhd.com has invited 20,000 vendors. In addition, Dangdang.com is the first comprehensive B2C e-commerce provider joining Yhd.com. The two parties may seek cooperation in more sectors in the future.
According to Yao Danqian, senior vice president of Dangdang.com, the platform service is one of the fastest growing businesses within the company, with an average growth rate of about 150%. Prior to this, Dangdang.com launched a service platform which offers marketing and service improvement to vendors and aims to promote the enhanced development of its platform.
Dangdang.com's financial report for the fourth quarter of 2013 showed that the company's net profit was CNY21.7 million; its profitability reached 1.1%; its net revenue was CNY1.972 billion; and its revenue from the platform was CNY3.667 billion. In the fourth quarter of 2013, Dangdang.com's book sector realized an increase of 28% and its clothing and commodity sectors saw an 82.5% increase.