China’s biggest e-commerce retailer is eyeing the US market
China’s Carrera e-Commerce Group is in talks with a major US retailer to launch a Chinese-based e-tailer in the United States.
The company, which has more than 70 stores, said it would seek an “exclusive US license” for its online marketplace.
It plans to start selling products in 2017.
The US-based company would have to invest $1 billion in a US retail presence to take over Carrera.
The e-factory in Shanghai that Carrera currently operates will not be moved to the US, a spokeswoman said.
The deal could give Carrera a foothold in the $400 billion US e-retail market, which accounts for more than $100 billion in annual sales.
The Chinese e-shop chain has grown to more than 40 stores and employs more than 5,000 people in its six states, including California, Washington and Arizona.
The move is a further sign of the growing clout that Carreras global brands have in the US.
It already has a presence in Canada, Europe and Australia.
Carrera’s new chief executive, Guo Zhongwei, said in an interview with the Financial Times that Carreers sales in China would rise by 70% to $100 million in 2017, or more than double the $3.3 billion the retailer made last year.