TikTok reportedly has plans to expand its e-commerce efforts in the United States by introducing a new program that would allow Chinese companies to sell their products in the country, with TikTok handling all of the logistics. Key details: Sources who wished to remain anonymous revealed the new "full-service model" program to The Wall Street Journal, which published their report on Tuesday. According to sources allegedly familiar with the plan, TikTok will launch its new e-commerce program in the U.S. in August as a way to replicate the success of Shein and PDD Holdings’ Temu, two other Chinese companies that have found great success in the market.
Wisynco chairman William Mahfood (right) and CEO Andrew Mahfood
Beverage manufacturer Wisynco Group Limited (Wisynco) is eyeing new investments as one means of growing revenue for the company whose domestic market has been depressed under the impact of COVID-19.
The company is also building out a new service model and is seeking to sustain an increase in exports that occurred in 2020.
In remarks attached to the financials for the six months ended December 31, 2020, directors indicated that the focus is on controlling costs and increasing revenues.
“Our team is equally motivated and intent on growing our revenues and not just on controlling costs. We continue to focus on key areas such as our export channel, which for the six-month period ended December 31, 2020 grew by 23 per cent and our Full-Service Model route to market while focusing on our customers,” Chairman William Mahfood and CEO Andrew Mahfood Chairman said in their letter to shareholders.