We are a women's handbag company. Based on online retail sales revenue, we ranked first in the Chinese online mid-range women's handbag market in 2016. We mainly design, promote and sell women's handbags, small leather goods and travel goods (including handbags, clutches, wallets, coin purses, card holders and luggage) in China. Our brand portfolio includes two brands, namely (i) our franchised brand ELLE; and (ii) our own brand, Jessie & Jane. The brands cater to the preferences of different age groups of consumers. Generally speaking, we develop and design our products and hire suppliers (for manufacturers) to produce such products. We have our own quality control measures to ensure that finished products produced by our suppliers meet strict quality standards before they are delivered to our sales network, which covers both online and offline retail outlets. We sell our products directly to end customers through our online and offline retail outlets. We also sell our products to third party retailers on a wholesale basis, which then sells our products to end customers through online or offline retail outlets operated by them.
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