"Our strengths include our strong branded product offerings, proven logistics network and high quality customer service. We are now enhancing our Internet marketing efforts and will also tailor our product strategies accordingly." Mr. Gu continued, "In this context, we are therefore very pleased to announce the new strategic partnerships with SINA, a leading online media company and mobile value-added service provider in China, and DongXiang, a leading international sportswear brand enterprise based in China."
"We plan to work with SINA on many fronts of Internet marketing, leveraging SINA's strong brand name and Internet marketing expertise to further ramp up Mecox Lane's Internet platform. Together with DongXiang, we intend to launch a sub-channel dedicated to sportswear on our m18.com website, giving us exposure to the growing online sportswear market in China and also plan to develop a new line of basic style of apparel and accessories." ( For more information, please see joint news release March 1, 2011.)
Mr. Gu further commented, "Working with our strategic partners, Mecox Lane aims to grow successfully into a leading e-commerce company in China focusing on apparels and accessories. We will offer multiple fashion products, sharpen our Internet marketing and branding efforts, and continuously improve our Internet user experience."
Mr. Gu concluded, "In order to achieve our goal of establishing a strong market position in the e-commerce business in China and generate long term return, Mecox Lane will focus on Internet sales growth, market share and customer acquisition while spending marketing dollars wisely. We will not try to maximize profitability in the short term. With such strategic focus, we will not make new investments into our call center business. We will also start to explore all strategic options regarding our store-based retail operations."Fourth Quarter 2010 Results Due to the seasonal nature of its business, the Company presents its financial results on a year-over-year basis between the fourth quarter of 2010 and the fourth quarter of 2009 as in the following paragraphs.
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