Retail management platform Walton Brown and China-based e-commerce enabler eCargo Holdings (ECG) have entered into a joint venture to form WWE & Company with an initial capital of CNY300m ($44.9m).
The new company will be jointly led by Walton Brown president Thomson Cheng and ECG CEO and founder Christopher Lau.
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A subsidiary of The Wharf (Holdings), Novel Colour will co-invest and own 50% of WWE.
WWE will bring together the brand management expertise of Walton Brown and logistics experience and technology of eCargo.
Lau said: “We are delighted to be partnering with Wharf and Walton Brown, together we have a winning combination of the right capability mix required to be successful.
“We are assembling a fantastic team of experts in technology, retail and marketing to make MyMM.com one of the leading online destinations for Chinese customers.”
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By GlobalDataThe newly established company will be launching a 'Made-for-China' mobile shopping platform by next year, offering in-season fashion, beauty and lifestyle products from international brands exclusively to customers in China.
Walton Brown president and joint-CEO of WWE Thomson Cheng said: “This partnership is in line with our overall strategy of investing and advancing our mCommerce footprint in China by working together with luxury, premium and contemporary brands to fill the white space that currently exists in the online market.”
