YIWU, China, Feb. 22, 2016 /PRNewswire / -- Yosen Group, Inc. (stock symbol: YOSN) ("Yosen") announced that following the formation of Zhejiang Yosen Lamapai E-Commerce Co., Ltd ("Zhejiang Yosen Lamapai") last year, Yosen recently formed a new subsidiary named Hanzhou Yosen Lamapai E-Commerce Co., Ltd. ("Hangzhou Yosen Lamapai"). Both Lampai companies were established following Yosen's overall strategy, which is "providing one-stop services to the cross border trading platforms while allowing consumers the joy of shopping globally without stepping outside of the border" as well as aiming to build a competitive Internet driven cross-border e-commerce business. Technically, however, each of the two companies serves a distinct purpose. While Zhejiang Yosen Lamapai focuses on Yosen's offline B2C+O2O direct sale platform, Hangzhou Yosen Lamapai will mainly drive Yosen's online service development, helping Yosen strengthen its cross-border e-commerce online platform, and further its retail and distribution via internet. Hangzhou Yosen Lamapai will aim on the B2B2C side to complete Yosen's three sectors in its cross-border e-commerce strategic planning, namely B2C+O2O, B2B, and B2B2C.
Hangzhou Yosen Lamapai's objective is to evolve into a primarily Internet operating business. Its online trading platform will not only manage digital membership, but also through an independently developed Android trading system allow small retailers' marketing and distribution on both WEB and APP, as well as wei-shop (an online store operating on mobile devices driven by the most popular messaging app in China "wechat"). On the one hand, Hangzhou Yosen Lamapai aims to become the overseas sourcing supplier for large domestic e-commerce platforms. On the other hand, in the retail front, Hangzhou Yosen Lamapai will cooperate with Zhejiang Yosen Lamapai and its cross-border O2O experience stores, bringing customers the unique experience that bring online and offline cross-border shopping activities together. The two companies' core team members are seasoned professionals from Alibaba and other well-known Internet companies. They are experienced in internet operations, cross-border e-commerce services, social media marketing, third party payment as well as other related functions.
"An ecosystem for Yosen's cross-border e-commerce business is gradually shaping up," commented Yosen's CEO Mr. Zhenggang Wang, "Hangzhou Yosen Lamapai is an important supplement to Zhejiang Yosen Lamapai, as one is more about in-store shopping experience and the other about Internet/mobile. Following the two Lamapai's formation, Yosen cross-border e-commerce business has completed the layout of both offline and online sales systems. These implementations are designed to cover and penetrate a wide range of shoppers from China's well-known large-scaled e-commerce players to small end consumers, by rolling out a systematically developed network. The complementary systems implemented by the two Lamapai companies will contribute enormously to our distribution and retail, and therefore are the solid foundation of Yosen's cross-border e-commerce business. We will update our shareholders regarding the Company's new developments in due course."
About Yosen Group, Inc.
Yosen Group, Inc. ("Yosen Group", or "Yosen") was founded in Yiwu City, Zhejiang Province, in 1997. Yosen Group, through its corporate headquarters in China and its wholly-owned U.S. subsidiary, is committed to building cross-border sales channels for bringing the world's best consumer products to China and, simultaneously, introducing China's most competitive products to the overseas markets. Yosen Group is China Commodity City Group's exclusive partner in the Greater New York area. The Company operates under the "Yosen" and "Yong Xin" brand names.
For more information, visit http://www.yosn.com/.
Safe Harbor Statement
Certain statements in this press release, constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements include, without limitation, statements regarding the Company's future performance. The Company has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the periodic reports that are filed with the Securities and Exchange Commission. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. The Company undertakes no duty to update these forward-looking statements except as required by law.
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SOURCE Yosen Group, Inc.