Samarkand Group PLC (AQSE:SMK) said it has signed an extension to its existing distribution agreement with luxury skincare brand 111SKIN until the end of July 2023.
The contract is for the ecommerce specialist’s Nomad Distribution services and will also include an expansion of its Nomad Storefront offering for Chinese ecommerce platforms.
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Building on the three-year partnership, Samarkand said it will launch a Tmall Global flagship store in China for 111SKIN later this month. Tmall Global is China's leading cross-border eCommerce platform, generating around £360bn gross merchandise value (GMV) in 2020.
The firm said the extension of its relationship with 111SKIN is “testament to the group's continued execution of its growth strategy” while also demonstrating a “growing desire for Western brands to increase their presence in China”.
"We are delighted to be continuing our work with 111SKIN, who we've worked closely and grown with since 2018. Being awarded this contract extension reflects our extensive experience and expertise in helping brands penetrate the notoriously difficult Chinese eCommerce market,” Samarkand chief executive David Hampstead said in a statement.
“We have continued to deliver exceptional quality of service and this agreement is indicative of the close relationships we hold with all of our clients, as well as the value add we bring. 111SKIN products are warmly received in China and we look forward to continuing to partner with and deliver for them whilst improving their presence in the world's largest eCommerce market," he added.