Value of deal not disclosed as Zalora Thailand also sold.
The Nguyen Kim Trading Joint Stock Company has completed its purchase of e-commerce retailer Zalora Vietnam while Thailand’s Central Group has bought Zalora Thailand, Zalora announced on May 13.
Significantly, the Central Group holds 49 per cent of electronics retailer Nguyen Kim. CEO of Zalora, Mr. Michele Ferrario, expressed his pleasure about the contribution by Zalora Vietnam and Zalora Thailand to the dynamic growth in e-commerce and believes that Nguyen Kim and Central Group can conquer fashion consumers in both countries.
The Central Group will have access to a database of over 2 million customers and more than 1,000 supply partners of Zalora.
Techcrunch previously revealed that Zalora was planning to withdraw from Vietnam and Thailand to cut costs. It also said that the purchase of Zalora Thailand was worth about $10 million while the purchase price of the Zalora Vietnam sale was not disclosed.
On April 29 the Central Group announced its purchase of Big C Vietnam from Casino Group, worth over $1 billion.
The Central Group is one of the largest family-owned conglomerates in Thailand, with interests in real estate, department stores, retail, hospitality and restaurants.
Nguyen Kim Trading Joint Stock Company, trading as Nguyen Kim Electronics Appliance Center, is the one of the largest electronics chains in Vietnam, selling household appliances, computers, and telecommunications products.