After a silence lasting several years, 8848.com, the one-time darling of the Chinese online business-to-business world, is planning a comeback to the e-commerce industry.
In a recent interview, current CEO Lu Chunwei expressed his strong determination to revitalize the company and transform it into a brand with lasting reputation. Lu admitted, however, that he would need public support as well as the media's understanding before he would be able to realizes such a goal.
Originally a pioneer in China's ecommerce industry, 8848 immediately became a focus of public attention after it announced its return to the e-commerce industry in 2003. The company encountered a range of issues in the past, including considerable financial difficulties, but it never went under. Now, with a revamped
service structure, 8848 seems to think it is time to get back on track.
It faces strong competition from companies like Alibaba.com, as well as the hundreds of smaller B2B online portals arranged by businesses and local governments around China.