(Image source: Chinaluxus.com)
The CEO of 360Buy, China’s second-biggest e-commerce site, has announced that his company will create “over 25,000” new jobs next year. That public Weibo message from Liu Qiang-dong (pictured right) led to speculation that 360Buy might be about to buy its rival Vancl, which specializes in only clothing – but 360Buy representatives moved quickly to quash that rumor.
It’s not the first time we’ve heard of hiring plans at 360Buy – also known as Jingdong Mall – as the company said it would hire 20,000 new staffers for 2012 back in October of this year. So it seems Mr. Liu’s company is now even more confident and has raised that figure. It is said that 360Buy currently has 15,000 people on its payroll. Analysts, meanwhile, say the company could double its revenue in 2012.
The rumor that it might acquire Vancl was likely triggered by the latter’s weaker position recently, after missing its planned US IPO schedule – and which is thought to be delayed or cancelled for the time being – and the sudden departure of its VP, who it is rumored might soon resurface at none other than 360Buy.
The B2C e-commerce site has been one of the most aggressive on the Chinese web in the past few years, rising to surpass its older rival Dangdang (NYSE:DANG), and is now second only to Alibaba’s Tmall online store. Just last month it made a move into the luxury retail sector when it opened 360Top. And the company’s purported 25,000 new hires look set to perpetuate that growth in 2012.
[Source: Business China]