Everyone knows that eBay is a true American success story when it comes to online retailers. While the company has had a ton of success when it comes to buying and selling things on the Internet inside the United States, it has had less success when it has tried to go outside these shores. That doesn’t stop the company from making other attempts. eBay (News - Alert) believes it may have found the secret to success in China at least, after they announced a partnership with Xiu.com.
Xiu is an ecommerce site that many industry insiders view as one that is up and coming. The site specializes in high end goods and luxury items and received quite a few people’s attentions to the point where investors have backed the site. Xu Qin, who is Xiu’s director of public relations, confirmed to various media outlets that his site and eBay will be forming a collaboration that will give eBay another try at gaining a foothold in China. The official partnership will be announced on November 12 where details will become clearer.
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eBay does have a small standing in China, but is losing out to bigger companies that have a better understand of the region. There is some talk that eBay might be buying into Xiu so that they can use that site’s well known and respected name.
One competitor that eBay seems to have a real problem with in that part of the world is the company known as Alibaba. Alibaba says that it is set to actually sell more than Amazon and eBay combined in 2012. eBay doesn’t seem to be taking this lying down, as the company earlier announced that it planned to invest a huge stack of cash in China in 2013.
Edited by Brooke Neuman