The e-commerce platform, Ule, is owned 49 per cent by TOM and 51 per cent by China Post. The site's online and offline launch has been scheduled for early August 2010.
TOM will allocate resources to the value of RMB200 Million (US$30 million) towards the marketing of Ule, and will be the exclusive provider of IT services.
According to a company statement, China Post will support Ule’s provision of an offline sales channel, warehousing and logistics support, with a view to fulfill the nation’s call for a secure and reliable online shopping service.
After its online launch, Ule will also offer offline catalogue services, a phone-order service hotline and gift cards that will be issued and made available nationwide via China Post counters.
China Post's network includes 46,000 post offices locations, 150,000 employees and 36,000 banking points. The infrastructure will be crucial for getting products to customers.
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