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Strategies & Market Trends : Greater China Stocks

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From: Julius Wong	10/30/2011 7:51:47 PM
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China Online Sales Triple; Warehouse Rents Surge By Bloomberg News - Oct 30, 2011 China’s largest online retailers expect sales to as much as triple next year, setting off a rush for warehouse space that’s pushing up rents in the world’s fastest-growing major economy. “Everyone wants more warehouses,” Ji Wenhong, chief executive officer of luxury goods seller xiu.com, said in an interview. “Any warehouse bigger than 20,000 square meters will be leased the second it’s out on the market.” Wal-Mart Stores Inc (WMT).-backed Yihaodian is looking for more space in anticipation of need. 360buy.com, China’s second-largest e-commerce company by sales, plans to invest as much as 6 billion yuan ($943 million) over the next three years to build seven distribution centers as the Beijing-based company expects 2011 sales to triple from last year to 30 billion yuan. Yihaodian sells items from Nokia cell phones to Pampers diapers and Kewpie mayonnaise online and targets a tripling of revenue to 7.5 billion yuan for 2012 from at least 2.5 billion yuan this year. The growth would come after the Shanghai-based company learned from the mistake of not having enough storage space to accommodate rising demand, Yu Gang, president of the company said in an interview. “Our sales may have gained another 10 to 20 percent if the business was not limited by the lack of warehouse and personnel during the first four months of this year,” he said. “We have learned the lesson.” bloomberg.com

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