MUMBAI: BFM, a new player in eCommerce in China, announced that it has entered into a Memorandum of Understanding (MOU) with DTDC, India's largest express delivery network, and DCG Tech Limited, an eCommerce tech company founded by DTDC's promoters and directors, to jointly develop an eCommerce business in India.
The core BFM management team comes from the eCommerce giant players in China and is now extending its cross border eCommerce business in China and India claims a BFM release. DTDC Express Limited, a strategic partner of DPD Group, has been operating over 25 years and covers 10,000 locations. DCG Tech Limited is an eCommerce Tech company operating in India for the last 10 years. The company provides online corporate, promotions and packaging solutions for Indian eCommerce and logistics industry.
According to the MOU with a non-compete clause, a joint venture will be formed to build an eCommerce platform. The cooperation aims to engage the experiences and resources of the companies to allow sellers mainly from India and China to introduce their products to buyers all over the world.
Through the combined effort, a new online platform (BFMe.in) targets to facilitate logistics and fulfilment with the support of DTDC's international network. BFM will provide marketing and supplier resources in China. Together with DCG Tech, BFM will also provide the knowhow in operating the eCommerce website.
