Strategic deal allows Japanese e-commerce company to bring more Japanese goods to Vietnam.
Transcosmos an e-commerce company based in Tokyo, has acquired a 30 per cent stake in Hotdeal, an e-commerce company in Vietnam.
The acquisition is part of Transcosmos’s plans to expand its market to ASEAN. According to Mr. Nguyen Thanh Van An, CEO and Co-founder of Hotdeal, the strategic cooperation with Transcosmos is a breakthrough for Hotdeal in improving the quality of its services and enhancing its business expansion in Vietnam and Southeast Asia.
A representative from Transcosmos, meanwhile, said that with the acquisition it will participate directly in the management of Hotdeal to bring more goods from Japan to Vietnam.
Established in 2010, Hotdeal is a shopping website with about 3.1 million monthly users and 2.5 million members. Besides its main business in e-commerce, Hotdeal also operates a travel website, at yesgo.vn.
Transcosmos was established in 1966 and is now present in 34 countries worldwide, in e-commerce, delivery, and other services. In 2014-2015 it recorded revenue of $1.68 billion and profit of $62 million.