China's biggest online wine platfrom gets capital injection
China's biggest online wine platfrom gets capital injection
Sep 7, 2012 6
(MorningWhistle) - China's biggest direct purchase platform of wines, WineNice.com confirmed on Thursday it’s close to the completion of a second-round of financing which scales to 1 billion yuan($160million). But the online platform did not disclose the specific investor information.
“The domestic wine market is still in its early stages of development, which is truly in a sunrise industry. It is expected in the next 3-5 years, the wine industry will enter a period of rapid development.” said Lv Yide, CEO of WineNice.com., adding that with the deepening of the awareness of online shopping, the proportion of e-commerce will continue to improve. Currently, e-commerce account for only 5% of the overall sales.
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