China 3C Group (CHCG.OB), a retailer and distributor of consumer and business products in China, announced that the company has entered into an agreement with the Lotour Company. Under the terms of this agreement, Lotour is to open China 3C mobile phone booths in particular Lotour stores.
Chairman and CEO Zhenggang Wang commented, “This agreement opens a new chapter in our expansion of the 3C market in China. Most of our stores now are located in large department stores or large electronics retailers. The arrangement with Lotour enables us to also expand our relationships with a company that is solely focused on the sale of 3C products.
Wang added, “Additionally, this will also increase the number of locations where China 3C’s products are sold. Going forward, when Lotour opens a new store, China 3C will be able to sell its mobile phones through the Lotour store. Lotour has set an internal target of 100 new stores for 2008.”
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