Yep that's what I thought. It makes sense as the SAMR approval...

Yep that's what I thought. It makes sense as the SAMR approval is required for any IF sold domestically - doesn't matter if it's instore or online. And China label is the only product thats SAMR compliant to be sold domestically.

I can see now why it would be hard to lift that domestic ecommerce market share and MBS share simultaneously. There would be a certain amount of overlap between the potential customers in each. I also imagine they would find it easier to build market share in MBS stores where they appear to be investing most in marketing and instore activation. So probably not a bad outcome to be just maintaining steady online market share at a fairly stable level while they ramp up offline fairly aggressively. Eventually it would follow suit anyway.