Digital marketing and e-commerce marketing company OpenDNA (ASX: OPN) has ratified a re-branding of its operations to become RooLife Group.
The update will mean the company’s ASX code will change to ASX: RLG in the coming days while its online operations move to www.roolifegroup.com.au as its new domain.
The change was approved at the company’s annual general meeting held last week with a recent acquisition of China market entry company QBID also approved by shareholders.
In a further development, RooLife has also been selected as an official partner and supplier for new China e-commerce platform WMall with immediate revenues already on the horizon.
RooLife’s head of international business George Panagios said that the new partnership will extend its reach and revenue lines in China thereby establishing the foundations for further growth in 2020.
RooLife is already focusing on developing artificial intelligence (AI)-powered solutions within e-commerce and will now utilise QBID to supply Chinese e-commerce platform WMall, with initial sales revenues of around $70,000 already forecast for this month.
WMall is a means of connecting western brands to China’s daigou shopping network – an emerging form of cross-border exporting whereby individuals or enterprises outside China purchase commodities, groceries and luxury goods to then sell them on to consumers within China.
RooLife in China
According to RooLife, the WMall platform is backed by several foundation strategic partners such as China’s powerful JD Logistics group Jing Xi Da. Furthermore, its Asian expansion plans will be supplemented by Chinese social e-commerce platform Feng Xiang by driving brand engagement.
RooLife’s new acquisition, QBID, is being tasked with engaging Australian and international brands while selecting a targeted range of products expected to have strong appeal to Chinese consumers.
As an official brands supplier to WMall, RooLife’s QBID will be responsible for product selection in consultation with WMall, providing pricing and market entry services making products available in China and allowing WMall to sell to its customers, the company said.
QBID will also liaise with Australian and international brands to prepare training materials and training sessions for the platform’s individual sellers to ensure the brands and customers are supported through the network.
Currently, QBID provides China e-commerce services on major platforms such as Alibaba’s TMall, VIP.com and JD.com, as well as marketing support for brands in China on China’s leading social media platforms such as WeChat, Weibo and Little Red Book.
Over the medium-long term, RooLife expects WMall to be popular with Australian and New Zealand brands seeking to tap into the daigou network both in Australia and in China with WMall stating that it plans to recruit “many thousands” of new members while growing sales over the coming months and years.
According to RooLife, the intricate business structure between QBID, WMall and the various supporting partners is a natural extension of the services already provided by QBID.
The newly acquired company works with several famous Australian and international brands, including Australia’s leading weight loss brand Celebrity Slim, US haircare brand Veta, premium dog grooming range Melanie Newman Salon Essentials, leading New Zealand skincare range Essano and other brands experiencing strong demand from Chinese consumers.
“This is an extremely exciting opportunity for both WMall and QBID. It leverages our China-side strength and experience with delivery of e-commerce, social networking and strong logistics capability with the proven brand selection, promotion and online sales capability and record of QBID,” said WMall’s chief executive officer Harry Wu.