HONG KONG--(BUSINESS WIRE)--eCargo Holdings Limited (ASX:ECG) (‘eCargo’, ‘the Company’) is pleased to announce the launch of品酒坊PinJiuFang Wines Marketplace (pjfwines.com) (‘PJF’), in partnership with CN Logistics International Holdings Limited (HKEX: 2130), allowing Chinese consumers to purchase premium imported wines direct from merchants.
Releasing in August, PJF is the first customs approved cross-border platform using direct-shipping to allow Chinese consumers to purchase premium imported wines, while paying only Cross-Border eCommerce tax rates.
Highlights
- Reflects fulfilment of key 2021 strategic objective of developing sales platforms to further connect international brands with the Chinese market
- Over 500 premium wines already available
- Provides additional revenue stream for ECG with a 25% sales commission paid to the platform on each order and optional further marketing services
- eCargo owns a 50% stake in the platform alongside CN Logistics, which provides import and wine sourcing expertise
PJF enables international wine retailers to sell directly to Chinese consumers instead of using more expensive traditional import channels. The launch represents another milestone in eCargo’s technology-focused 2021 strategy following the launch of B2B marketplace JuJiaXuan in June.
PJF exclusively stocks premium wines, a relatively underserved yet high-potential category in China – potential that PJF is poised to capture by leveraging eCargo’s expertise in Cross-Border eCommerce, and CN Logistics’ status as Hong Kong’s leading premium wines provider to build a one-stop solution for merchants and buyers.
While other cross-border sales platforms require wine merchants to hold their stock in bonded warehouse locations in China – resulting in significantly higher costs – PJF’s end-to-end model allows stock to be held in a merchant’s warehouse, with orders consolidated by partner CN Logistics, before being shipped directly to customers.
Furthermore, cross-border eCommerce channels let wine merchants access better tax rates, quicker customs (2-3 days) and fewer regulatory barriers (e.g. no sampling), while still shipping direct to millions of customers.
As the first content-driven wine platform in the market, PJF also leverages eCargo’s growing network of KOLs and KOCs1 as well as sommeliers in China to market its products through both content generation and offline activation campaigns in China.
Commenting on the launch, CEO Lawrence Lun stated: “PJF represents another step towards fulfilling our technology-focused 2021 strategy, following the launch of our JJX B2B marketplace. PJF is a B2C marketplace fully integrated with China Customs, focusing on a market set for strong growth in over the coming years, as local demand for high-end premium wine continues to grow. PJF has been built to capture that demand, giving both international merchants and local consumers an efficient platform to buy and sell through cross-border trade, backed by the expertise of joint-venture partner CN Logistics.”
About eCargo
eCargo Holdings Limited is an ASX-listed company offering technology solutions that connect global brands with Chinese buyers and provide the tools businesses need to grow their China sales.
1 KOL: Key Opinion Leader; KOC: Key Opinion Consumer
