China is importante for the online retailer This can be seen among other things at an extraordinary general meeting and the new board member Charles Zhixiong Yan.

More than 60 percent of the group’s turnover is now generated by the China business for This was announced by the group at the presentation of the half-year results. Chief Executive Officer Matthias Peuckert: “In the first half of 2019, the Group made significant progress in terms of profitability and the further reduction of the cash outflow. Strategically, we see many growth opportunities in China and are implementing them in China with our expanded team and capabilities. For the rest of 2019 and the beginning of 2020, we will invest in further growth, especially in China”. This growth strategy is pursued by with the support of two new Asian investors. The measures include the opening of a second bonded warehouse, additional online distribution channels, the continuous expansion of the product range, possible cooperations with local Chinese companies and the potential expansion of the business model to a hybrid distribution model. has decided on additional capital for its business in China

In order to finance this growth in the Middle Kingdom, voted on capital measures at an extraordinary general meeting at the end of September. Among other things, a resolution was passed to reduce the share capital with a concomitant consolidation of shares. In addition, the Annual General Meeting approved the creation of new authorized capital. In addition to financing the growth strategy in China, these measures are also aimed at cooperating with Chinese companies and strengthening liquidity. Because sees good chances for cooperations in online marketing, access to distribution channels and the expansion of the product range in China. For the year 2019, the Group expects a slight sales growth compared to 2018 due to the growth measures in China and a generally stronger second half of the year. Furthermore, continues to strive to reach break-even at the beginning of 2020.

Local team to be expanded

In order to give the China business additional dynamics, the supervisory board of has appointed Charles Zhixiong Yan as an additional member of the board. Yan is responsible for the strategy and business development of in China. He will drive the further growth of the company in this attractive market. supervisory board chairman Willi Schwerdtle: “Charles brings years of experience in the successful scaling and development of companies in the Asian market. We are convinced that Charles’ appointment to the Group’s Management Board will help to drive forward important projects in the Chinese business in 2019 and in the years to come”. The Group intends to expand its team in China to strengthen its local market presence. CEO Matthias Peuckert: “We are currently building up an experienced team in China in order to further expand our position as a trustworthy German company with high-quality European products for Chinese customers. We are convinced that with Charles and other competent experts in China we will be able to increase our sales profitably”.


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Link: The Chinese market is especially important for the online retailer