YIWU, China, Oct. 26, 2015 /PRNewswire/ -- Yosen Group, Inc. (stock symbol: YOSN) ("Yosen", or "the Company") today announced that the Company recently formed a new subsidiary named Zhejiang Yosen Lamapai E-Commerce Co., Ltd. ("Yosen Lamapai"). Established in Zhejiang Province with the registered capital of RMB 10 million, Yosen Lamapai is 55% controlled by Yosen, with the rest being held by well-known businessmen in Zhejiang province and Yiwu City. Lamapai is the pronunciation for the Chinese words meaning "the Hot Mommies."
Since Year 2014 Yosen has defined a clear O2O ("Online to Offline") strategy as "providing one-stop services to the cross border trading platforms while allowing consumers the joy of shopping globally without stepping outside." After more than one year's efforts in market research, supply chain integration, system development and team building, the Company has gradually and steadily moved in the right direction with all of its core sectors including B2C, B2B2C and B2B.
Yosen Lamapai will be committed to building a China based leading B2C+O2O global platform providing a direct sale opportunity for international brands to connect with the Chinese consumers, instilling international modern living concepts and fulfilling Chinese consumers' ever-increasing power of consumption. Bonded by an electronic membership card, shoppers can switch seamlessly between the online facility "Yosen Lamapai Global Buy Online Shopping Mall" (via both an App and the web) and offline retail locations "Yosen Lamapai Cross-border Experience Store."
Yosen Lamapai will take advantage of China's preferential tax treatment as well as other favorable policies for cross-border ecommerce businesses. Its e-commerce platform will conveniently bring international goods to Chinese consumers as personally-purchased products, with no constraints from any dealerships, or importing licenses, or trade quota among others. Yosen Lamapai plans to open two large-scale cross-border O2O experience stores in Hangzhou and Yiwu, first, with more than 20 such experience stores to follow within one year. It expects to have 1.2 million active members and reach annual sales of more than RMB500 million (or approximately USD80 million) by then.
"This is a big step for Yosen to further our cross border O2O strength," commented Yosen's CEO Mr. Zhenggang Wang, "Because of our forward-looking business model, Yosen Lamapai has already received many inquiries from institutions and individuals to join during our preparation phase. Furthermore, thanks to our unique locations in Hangzhou and Yiwu which are among one of the very few national pilot areas to enjoy certain cross-border e-commerce privileges, we will be able to take one step further to enhance our competitive advantages. We are confident that with the support of many successful entrepreneurs from Yiwu and other thriving cities in Zhejiang Province, Yosen Lamapai will be the flagship company of Yosen's B2C and O2O business."
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.