China's Kidswant Reaches Strategic Cooperation With Wyeth

Kidswant, a Chinese one-stop shopping service provider for child, baby and maternity products, has signed a strategic cooperation agreement with Wyeth in Nanjing, headquarters of the Chinese company.

Xu Weihong, chief executive officer of Kidswant, said during the signing ceremony that Wyeth is an important strategic cooperation partner of Kidswant and the two parties achieved remarkable results via a series of in-depth cooperation over recent years. With the signing of the strategic cooperation agreement, the two parties will upgrade their cooperation and work together to provide higher-quality products and services to new Chinese families in the future.

Qu Feng, president of Wyeth Nutrition Greater China, congratulated Kidswant on their explosive growth both online and offline in recent years. In the future, Wyeth and Kidswant will jointly implement full in-depth cooperation from product, service to membership.

After the signing ceremony, the two parties shared their annual development strategies for 2017 and implemented extensive exchanges and discussions about various subjects, including product, service, supply chain, and membership system. They reached unanimous views and opinions about membership system establishment, Kidswant's childcare consultancy service, and efficient operation of supply chain.

By December 2016, Kidswant had more than 160 large physical stores in nearly 100 cities in China, with an average store area of 5,000 square meters. Meanwhile, Kidswant's app realized explosive growth of users and orders. At present, Kidswant is one of the top three baby and maternity e-commerce platforms in China.

Financial terms of this Wyeth and Kidswant deal were not released.