Following its latest financing of CNY4.5 billion, the Chinese video website Letv.com announced a large-scale investment project for launching a partnership program named LePar.
Under this program, Letv plans to open 1,000 to 1,500 offline experience retail stores across China before the end of 2014 to accelerate its online channel expansion.
Zhang Zhiwei, vice president of Letv, told local media that LePar is an offline experience and display platform as well as a post-sales service platform. Letv stores mainly cover Internet users; while LePar will reach a broader customer group. Meanwhile, components of Letv’s system such as movies, TV series, sports shows, music shows, Wangjiu.com, and fresh food purchases will all realize offline operations via LePar.
Zhang said that the first LePar offline store is expected to open before October 2014.
The company will adopt a unified management for the new retail operations. The company split the nationwide market into six major regions: Northeast China, North and Northwest China, East China, Central China, Southwest China, and South China. Those regions will be managed directly by the company’s headquarters.