Business

Japanese firm purchases 30 percent stake in Hotdeal

The Tokyo-based outsourcing giant Transcosmos has acquired a 30 percent stake in Hotdeal Co Ltd, which owns Vietnam's largest e-commerce marketplace hotdeal.vn.

The Tokyo-based outsourcing giant Transcosmos has acquired a 30 percent stake in Hotdeal Co Ltd, which owns Vietnam's largest e-commerce marketplace hotdeal.vn, a representative of the Japanese company in Vietnam told Viet Nam News.

The deal was signed recently between Transcosmos president Masataka Okuda and Hotdeal CEO and co-founder Nguyen Thanh Van An.

Transcosmos said it would use Hotdeal to provide products and services from its partners to consumers in Vietnam and also to enter the ASEAN market.

"The e-commerce platform that Hotdeal has will be combined with the operations of transcosmos to continue a broad co-operation as partners in the ASEAN region, including support for client companies that are expanding e-commerce to the ASEAN market."

An said he believed the strategic tie-up would be a breakthrough for Hotdeal in improving its quality of services and expanding business in Vietnam.

"In addition, this partnership will introduce Hotdeal.vn to international brands, secure know-how in the e-commerce and trading industry, and internationalise its management and cross-border trading capabilities."

Hotdeal, established in 2010, also operates the travel vertical yesgo.vn.

Its core business, Hotdeal.vn, utilises group purchasing and flash marketing combined with traditional e-tailing services out of its warehouses in HCM City and Ha Noi to sell items like discount vouchers for restaurants and spas, consumer products like fashion, home electronics, daily necessities, accessories, toys, health and beauty products, books, and services like tours.

Most of its customers are in the young adult segment in Ho Chi Minh City and Hanoi. With 2.5 million members and approximately 3.1 million unique monthly users, it is Vietnam's largest daily deal website.

Transcosmos, launched in 1966, has a presence in 34 countries where it offers e-commerce services to deliver client companies' products and services. It plans to shift its focus to the ASEAN market.-VNA

VNA
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