Tokyo-based Rakuten Inc has earmarked THB100 million (USD3.1m) for expansion of its e-commerce business in Thailand over the next three years.
The move comes after its Tarad.com e-marketplace showed rapid growth since 2010 after Rakuten paid USD43.4 million in 2009 to acquire 67 percent of Thailand's Tarad Co, owner of Tarad.com.
Just when shopping was getting interesting, the Indian government is getting ready to play spoilsport. A day after Flipkart experienced outrage over failed transactions on its Big Billion Day sale, reports said that the poster boy of Indian e-commerce is likely to face government scrutiny on complaints of predatory pricing.
Zara recently opened an online store in South Korea, which offers online shoppers the same full range of merchandise as that found in high street stores.
The company said items sold online are priced the same as those found in Zara's stores, and customers can choose home delivery or have their purchases sent to a store of their choosing for pick up. New products will be featured twice per week.
Under-fire online fashion retailer Asos is facing growing concerns from its suppliers – some of UK's leading clothing brands – about the discounts it is offering on their products.
Asos relies heavily on selling products from fashion brands including New Look, Karen Millen and Reiss, although it also sells own-brand lines.
It is believed that some of the leading brands are frustrated with the discounts Asos has offered on their clothes, particularly in the run-up to Christmas last year, and have threatened to pull out.
Major online shopping mall operator Rakuten Inc. is finalising negotiations to acquire major US cashback shopping site operator Ebates Inc., informed sources said on Saturday.
Rakuten aims to expand its overseas operations, mainly in the United States, through the acquisition of Ebates, the sources said. The deal is estimated to exceed USD1 billion, the sources said.
Sir Philip Green's Topshop and Miss Selfridge brands are to push into China with an agreement to launch on the ShangPin.com fashion retail website next month. Sir Philip has long held the ambition of taking Topshop into China and already has two stores in Hong Kong.
The retail billionaire said: "As we continue to grow our global expansion, this will be a step forward using the power of China's online reach and therefore selling into one of the world's most exciting consumer markets."
When two young graduates of the Indian Institute of Technology-Delhi in 2007 launched Flipkart, an Amazon-inspired online book store, few Indians had ever bought anything other than airline tickets over the internet.
As a pioneer in the business, Flipkart had to wrestle with obstacles ranging from customers' reluctance to give credit card details online – or even a lack of credit cards at all – to suspicions that goods would never arrive.
Taking note of sartorial leaders in the United States and Europe, the Indonesian fashion industry is starting to realise the opportunities of e-commerce in high-end design and ready-to-wear retail.
Though the new shopping territory is still largely uncharted in Indonesia, a few product pioneers are already testing out the internet market. Their customer base, however, is still several steps behind. Shopping online, from the comfort of home, is not yet seen as an upgrade – or even as an alternative – to shopping in a store.
Indian e-commerce companies may run into more competition in the months ahead with global entities such as Alibaba, Rakuten and Walmart seriously eyeing the Indian market.
Founded by two ex-Amazon employees Sachin and Binny Bansal, Flipkart has been changing its formats and strategy over the last year with Amazon’s entry.
Vipshop, a Chinese online retailer that sells quality branded items at discount, on Wednesday reported better-than-expected results for the first quarter ended on 31 March 2014. Total net revenues surged 125.9 percent over the prior year period to USD701.9 million, primarily driven by growth in the number of active customers and total orders. Active customers grew 129.3 percent from 2.8 million to 7.4 million and total orders rose to 20.2 million from 8.8 million last year.