Modamoda Signs MOU with Jung Wieonchan CD E-commerce

Modamoda announced on the 12th that it has signed a Memorandum of Understanding (MOU) with Shanghai Yuanchan CD E-commerce, a major Chinese e-commerce company.

Modamoda announced on the 12th that it has signed a Memorandum of Understanding (MOU) with Shanghai Yuanchan CD E-commerce, a major Chinese e-commerce company. On the 9th, the two companies' representatives held a signing ceremony in Shanghai, China, and took a commemorative photo with KOTRA President Jeong-yeol Yoo (second from the right).
[Photo by Modamoda]

The two companies agreed to cooperate in various fields such as marketing and sales to develop distribution channels for Modamoda products in the Chinese market and pursue mutual benefits.

Yuanchan CD operates CDbuy.com and has mainly imported products from Western countries such as the United States and Europe, conducting both online and offline commerce. It currently collaborates with more than 38,000 consumer goods factories in 36 countries overseas. It handles over 500,000 products including beauty, fashion, interior, food, kitchen, and bathroom supplies.

The parent company, Shanghai Sibang Group, is China’s largest manufacturer of mining crushing machinery and equipment as well as an IT company, providing mining crushing equipment and comprehensive internet solutions to more than 160 countries worldwide.

This MOU was promoted during the ‘Korea-China New Business Cooperation Plaza’ held by the Korea Trade-Investment Promotion Agency (KOTRA) on the 9th in Shanghai, China. The event took place amid expectations that domestic companies’ exports to China would expand, coinciding with China’s reopening after COVID-19 and economic stimulus measures following the launch of President Xi Jinping’s third term.

A Modamoda official stated, “With economic advancement, Chinese consumers are actively spending on beauty, and the Chinese hair care market has great potential,” adding, “Through this MOU, we will further expand online and offline distribution channels in the Chinese market.”