360buy.com to Create 25,000 New Jobs in 2012; Won't Buy VANCL

   Date:2011-12-29wangxin

December 28, Jingdong Mall (360buy.com), China’s largest online business-to-consumer retailer, plans to hire 25,000 new employees in 2012 and is not in talks to buy independent online own-label fashion apparel retailer VANCL Technology Co. Ltd., the company said.

On Monday, 360buy.com chief executive officer and president Liu Qiangdong said on his mircoblog that the company would take on 25,000 staff next year, sparking rumors that such a high figure included absorbing VANCL’s workforce.

But 360buy.com moved quickly to quash the rumors, explaining that Liu’s post only referred to the company’s plan to create 25,000 job opportunities in 2012 and that the online retailer has no relationship with VANCL.

360buy.com has already broken the RMB 10 billion sales barrier this year. Liu previously said the company has 15,000 employees.

Analysts said that 25,000 new employees for 360buy.com is a reasonable goal as the e-commerce website is expected to double its revenue and speed up expansion next year.

Analysts also said that VANCL had a very high valuation in its latest round of financing, giving no suggestion that it wants to be acquired.

If 360buy.com does intend to make an acquisition, it would be a delivery company and not VANCL, market watchers said.

In a microblog post earlier this month, Liu expressed his frustration at delivery options in China and said his company would buy 300 trucks and enter the logistics and distribution market.

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