HONG KONG, Sept. 3, 2014 /PRNewswire/ -- 361 Degrees International Limited ("361 Degrees" or the "Company", together with its subsidiaries, the "Group"; HKSE stock code: 1361), one of the leading sports brand enterprises in China, held a strategic cooperation signing ceremony with Baidu Times in Beijing, announcing the joint development of digitally enhanced sports products. This cross-sector cooperation between 361 Degrees and Baidu Times marks a significant revolution for traditional enterprises to implement innovative technologies and is confident that the cooperation will be beneficial to the improvement of products and services of both parties.
Baidu Times is a subsidiary of Baidu, Inc., a well-known and leading Chinese language Internet search provider with strong mobile and other technologies including the Baidu Map, cloud storage technology and artificial intelligence. Pursuant to the strategic agreement, Sanliuyidu China, a subsidiary of the Company, and Baidu will establish a "Sports Data Innovation Laboratory" to engage in joint research and management of data to develop digital products. In addition, the parties will share other resources, such as sales and distribution channels. Sanliuyidu China's initial capital commitment will be RMB10 million and Baidu Times will contribute an equivalent amount in platform and technological resources.
Mr. Ding Wuhao, President and Executive Director of 361 Degrees, said, "In recent years, the Internet has been a continuous threat to traditional enterprises. It is imperative for the traditional enterprises to restructure and transform. Looking ahead, the Group will integrate 'Internet Thinking' into its corporate development, and fully utilize the 'Sports Data Innovation Laboratory' for overall brand development. Through truly understanding and identifying the users, the Group will enhance user experience in the sports goods market space."
About 361 Degrees International Limited
361 Degrees International Limited is one of the leading sports brand enterprises in China, possessing brand marketing, research and development, design, manufacturing, distribution and retail capabilities. The Group's products include footwear, apparel, accessories and equipment for sport and leisure uses. The Group has established an extensive supply chain management system through proprietary and sub-contracted manufacturing operations; and an exclusive distribution and retail network in China through distribution via authorized distributors.
For more details, please refer to its website: www.361sport.com.
For further information, please contact:
361 Degrees International Limited
Mr. Y F Chen
Vice-President, Investor Relations
361 Degrees International Limited
Email: yuanfeng@361sportshk.com
iPR Ogilvy & Mather
Natalie Tam/ Charis Yau/ Janis Lai/ Candy Tam
Tel: +852-2136-6182 / +852-2136-6183 / +852-2169-0646 / +852-3920-7626
Fax: +852-3170-6606
Email: 361@iprogilvy.com
