LeEco to Supply Russian Foods to China

PHOTO by Konstantin Chalabov / RIA Novosti

The Far East and Baikal Region Development Fund and the Chinese technology group LeEco have announced the launch of LeLive, an online platform which will be used to market Russian foods in China, Kommersant reports.

According to Alexei Chekunkov, CEO of the Development Fund, estimated investments in the new platform will exceed ten billion roubles (approx. $153 million) over the next three years. “This amount will meet the demand of Chinese consumers,” Chekunov stated.

“We are planning to start with the export of bottled water and flavored drinks, which will first be test-marketed towards taxi passengers in order to introduce the potential customers to our products,” the head of the Fund stated. As Director of LeEco Russia and Eastern Europe Victor Xu stressed, “given the numerous environmental problems affecting China today, Russian water can be expected to find a ready market there.” The trial supplies to China will start before the end of the year.

Later, LeEco users will be offered a broader range of foods, including various types of pastries, flour, cereals, canned meat, butter, honey and nuts, according to the newspaper’s report.