34 mill cash 10 mill MC !, page-63

Too late for online expansion. The demographic in China that buys online are now savvy enough about the international brands that used to carry massive premiums. At the same time group buying abroad is expanding rapidly with the development of multi-currency payment options/forwarding services (historically the main obstacle for purchasing overseas is currency exchange). A locally badged 'sounds Italian' type would've worked well 10-15 years ago but not anymore. Clothing, like milk powder is all about marketing, and with brand value it brings in premium on price that filters down to quality (let's face it, the % of $ that goes into the actual product is very low compared to marketing spend, it's just that 10% of $500 is significantly more than 20% of $100). The target demographic for Sunbridge probably don't use online shopping all that much (and even if they do, use it for price competition).