BEIJING, May 13, 2016 (GLOBE NEWSWIRE) -- Wowo Limited (the “Company” or “JM WOWO”) (NASDAQ:WOWO), China’s leading B2B online e-commerce platform that provides integrated supply chain management services in the catering industry, today announced that on May 9, the Company entered into a strategic cooperation agreement with Yihai Kerry Investment Co, Ltd (“Yihai Kerry”), an investment holding company engaged in sales and marketing of consumer packaged products, processed products, condiments, beverages and grains through its subsidiary.
The partnership expands JM WOWO’s product selection, bringing Yihai Kerry’s Jinglongyu branded cooking oil, flour and rice products and its Jiejin branded kitchen cleaning products to the Company’s online marketplace. The partnership with Yihai Kerry will help attract additional merchant purchasers by expanding product volume and selection provided on the Company’s online platform. This cooperation also extends JM WOWO’s efforts to help merchants reduce purchasing costs and food safety risks.
Feng Pan, Chief Strategy Officer of JM WOWO, commented, “Yihai Kerry is a notable provider of cereals, oils and foodstuffs in China, while JM WOWO is a leading B2B platform in the catering industry. Both companies share the same strategic vision that the future of the catering industry will be highly integrated, with each division having its own clear-cut and well-defined roles and responsibilities. We believe that our partnership with Yihai Kerry to integrate the traditional catering industry with e-commerce, will be mutually beneficial for both parties and the industry as a whole.”
Mr. Pan continued, “Our partnership with Yihai Kerry will ensure food safety for merchants from farm to table through JM WOWO’s visualized and traceable system by directly connecting food suppliers and buyers. This partnership will expand free market choices for merchants, improve JM WOWO’s supply chain development and help optimize the food traceability system in the catering industry.”
Bin Ye, Director of Catering Development at Yihai Kerry, commented, “Yihai Kerry has experienced significant developments in the rice and flour sector in recent years. In the Internet era, restaurants have begun turning to online platforms for food purchasing. To deliver more efficient and lower-cost services, Yihai Kerry values the importance of expanding its e-commerce channels. In recent years, we have established multiple online distribution channels. The partnership with JM WOWO will add another important distribution channel to Yihai Kerry’s online sales network.”
Siming Shen, President of Shanghai Restaurants Cuisine Association, commented, “JM WOWO and Yihai Kerry’s cooperation will be beneficial in Shanghai’s efforts to achieve a higher level of food safety.”
About JM WOWO
JM WOWO currently operates China’s leading B2B online e-commerce platform that provides integrated services to suppliers and customers in the catering industry. With the help of Internet and cloud technologies, JM WOWO has the vision to reshape the procurement and distribution pattern and build a fair business ecosystem in the catering industry in China. JM WOWO is further promoting the use of its platform for small- and medium-sized restaurants and restaurant chains in China.
Through cooperation with national and local industry associations and reputable restaurant groups across China, JM WOWO has formed a leading industrial alliance and has great resource leverage in China’s catering industry. JM WOWO works closely with suppliers and customers in the catering industry, providing one-stop procurement services, as well as other value-added services.
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