WWE & Company is a fashion, beauty and lifestyle technology company specialising in the development of mobile, cloud-based, O2O commerce enterprise technologies, targeting the mainland Chinese consumers. WWE is a joint venture between The Wharf (Holdings) Limited (SEHK:0004), Walton Brown Group (a company of The Lane Crawford Joyce Group), and eCargo Holdings Limited(ASX:ECG), initially capitalised at RMB 300 million. The company was founded and led by Thomson Cheng, President of Walton Brown, and Christopher Lau, CEO and Founder of eCargo, as co-CEOs in Hong Kong on 20 August 2015.
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Investors
The Wharf (Holdings) Limited (SEHK:0004), who owns Harbour City and Timesquare, will co-invest RMB 150 million through Novel Colour Limited for a 50% equity interest in WWE, while Walton Brown and eCargo will co-invest another 50%, RMB 150 million, through MM E-commerce Limited.
Business Model
WWE’s investors collectively are a specialist and a market leader in bringing global luxury and designer brands to China from all over the world and connecting these brands to consumers in Greater China. WWE has a vision to "Connect Chinese consumers to the world of fashion and lifestyle community with one touch". WWE will launch a social mobile, multi-brand, lifestyle eMarketplace, MyMM.com, in early 2017 offering the most exciting range of in-season fashion, beauty and lifestyle products from international brands exclusively to customers in China.
Announcement
Upon eCargo's ASX announcement, eCargo's shares went up by about a quarter on the news.
Offices
WWE is headquartered in Hong Kong and has an office in Shanghai.