ZKH, the Chinese producer-goods supermarket, reached $100 million purchase intention with DOW and Schneider Electric at the second China International Import Expo in Shanghai on Tuesday, according to thepaper.cn.
Photo taken on Nov 4, 2019 shows Jinbao, mascot of the China International Import Expo (CIIE), at the south square of the National Exhibition and Convention Center (Shanghai), a main venue for the second CIIE, in Shanghai. (Photo: Xinhua)
ZKH is the new "Six days+ 365 Days" trade and service platform by the Shanghai Municipality this year and an important carrier of the CIIE's overflow effects. DOW and Schneider Electric are long-term strategic partners with ZKH, so they have a larger exhibition area and broader exhibit categories at the CIIE this year.
"We communicated with exhibitors to let them know in advance what products we plan to purchase, how much we expect to pay, and how long it would take to close a deal, " Zhong Yan, chief inspector of ZKH public affairs said.
Before the company reached the $100 million prospective purchase intention its leaders had often discussed it offline. The deal will be closed during the CIIE after discussions on some details.
"As a platform provider, we plan to sell these products to downstream manufacturing enterprises," Zhong said.
Public information shows ZKH offers higher cost-effective products, a smart supply chain and one-stop solution for MRO.