Zhuanzhuan Acquires Hongbuling, Joining Forces to Create a New Landscape in the Second-hand Market

Zhuanzhuan Acquires Hongbuling, Joining Forces to Create a New Landscape in the Second-hand MarketOn September 23, Zhuanzhuan and Hongbuling jointly announced the completion of a full acquisition agreement. The two companies will deeply integrate resources and jointly promote the further development of the second-hand luxury and fashion goods markets

Zhuanzhuan Acquires Hongbuling, Joining Forces to Create a New Landscape in the Second-hand Market

On September 23, Zhuanzhuan and Hongbuling jointly announced the completion of a full acquisition agreement. The two companies will deeply integrate resources and jointly promote the further development of the second-hand luxury and fashion goods markets. After the acquisition, Hongbuling's professional expertise in second-hand luxury goods authentication will be integrated into the Zhuanzhuan platform. Huang Wei, CEO of Zhuanzhuan Group, stated that the two integrated platforms will take on different positions within the Zhuanzhuan Group. Zhuanzhuan will continue to focus on building a comprehensive, multi-category trading platform, while Hongbuling's professional authentication capabilities will help Zhuanzhuan enhance the multi-category authentication level of its "official verification" and further drive Zhuanzhuan's business expansion in multiple product categories.

Huang Wei emphasized that this acquisition is a crucial step in Zhuanzhuan Group's strategic layout, aiming to enhance Zhuanzhuan's competitiveness in the second-hand market by integrating Hongbuling's professional resources. He also expressed confidence in the collaborative development of the two platforms in the future.

According to available information, Hongbuling, founded by Xu Wei, Yang Bin, and Pang Bo in 2017, has accumulated extensive professional operational experience and industry insights in the field of second-hand luxury goods and fashion products. Hu Weikun, co-founder and COO of Zhuanzhuan Group and newly appointed CEO of Hongbuling, pointed out that Hongbuling will continue to operate its brand and APP independently. This decision aims to ensure that Hongbuling can maintain its unique brand characteristics and market positioning after the acquisition while leveraging the powerful resources of Zhuanzhuan Group to provide higher-quality second-hand fashion goods trading services to more users.

This acquisition will undoubtedly inject new vitality and opportunities into the second-hand market. The combined forces of Zhuanzhuan and Hongbuling are expected to create a more comprehensive and professional second-hand trading platform, offering consumers a more convenient and efficient second-hand goods trading experience.

Zhuanzhuan's Strategic Layout: Integrating Resources, Enhancing Competitiveness

Zhuanzhuan, a leading domestic second-hand trading platform, has been dedicated to building a comprehensive, multi-category trading platform. The acquisition of Hongbuling is a crucial step in Zhuanzhuan Group's strategic layout, aiming to enhance Zhuanzhuan's competitiveness in the second-hand market by integrating Hongbuling's professional resources.

Hongbuling's expertise in second-hand luxury goods authentication will help Zhuanzhuan enhance the multi-category authentication level of its "official verification" and further drive Zhuanzhuan's business expansion in multiple product categories. This will benefit Zhuanzhuan's platform by improving product quality and user trust, attracting more users to participate in transactions, and ultimately driving rapid platform growth.

Hongbuling's Independent Operation: Maintaining Brand Characteristics, Expanding New Markets

Despite being fully acquired by Zhuanzhuan, Hongbuling will continue to operate its brand and APP independently. This decision aims to ensure that Hongbuling can maintain its unique brand characteristics and market positioning after the acquisition while leveraging the powerful resources of Zhuanzhuan Group to provide higher-quality second-hand fashion goods trading services to more users.

Hongbuling's independent operation will help it retain its existing user base and brand image while leveraging Zhuanzhuan's platform advantages to expand into new markets and attract more users.

Joining Forces, Creating a New Landscape in the Second-hand Market

The combined forces of Zhuanzhuan and Hongbuling are expected to create a more comprehensive and professional second-hand trading platform, offering consumers a more convenient and efficient second-hand goods trading experience.

The combination of Zhuanzhuan's comprehensive platform advantages and Hongbuling's professional authentication capabilities will provide users with a more convenient, secure, and reliable second-hand goods trading experience. This will contribute to improving the overall development level of the second-hand market and promoting the rapid growth of the second-hand economy.

Future Outlook: Collaborative Development, Creating More Value

This acquisition is a significant milestone in the joint development of Zhuanzhuan and Hongbuling. Both parties will fully leverage their respective advantages, collaborate for development, and create more value.

In the future, the two parties will further integrate resources and jointly build a more comprehensive second-hand trading ecosystem, providing consumers with more high-quality services and jointly promoting the healthy development of the second-hand market.

Conclusion

Zhuanzhuan's full acquisition of Hongbuling is a significant milestone in the development of the second-hand market, marking a new stage of development for the second-hand trading industry. Both parties will fully leverage their respective advantages, jointly build a more comprehensive second-hand trading ecosystem, provide consumers with more high-quality services, and jointly promote the healthy development of the second-hand market.

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