China’s second largest online retailer JD.com invests in Tiki

The Hanoitimes – JD.com, Chinese second largest online retailer behind Alibaba, has made an investment in Vietnam’s leading B2C e-commerce firm Tiki.vn, expanding its Southeast Asia business amid growing competition. JD.com didn’t disclose the size of the investment but said that it would become one of the largest shareholders in Tiki after this deal, according to its statement released on January 16. As part of the deal, JD will partner with Tiki in a range of areas, including merchandising, cross-border trade, logistics and fulfillment, technology, financing, and operational capabilities, it said. With the investment in Tiki, JD.com adds Vietnam to its growing Southeast Asia presence  “We are very excited to continue our Southeast Asia expansion with Tiki, a company that has a deep understanding of Vietnam and a reputation for outstanding customer service,” said Winston Cheng, president of JD.com’s international business, said in the statement. Son Tran, Tiki’s Founder and CEO said JD and Tiki shared the same business philosophy: to win market share by winning consumers’ heart. Since inception, Tiki has always focused on best-in-class, authentic shopping experience and amazingly fast delivery. JD.com will tap Tiki.vn’s warehousing and delivery system, as well as its technology and payments capabilities. JD.com co-led the financing with Vietnamese entertainment and social media firm VNG Corp, which is an existing investor. Besides VNG, Tiki.vn’s previous investors include Seedcom, Sumitomo Corp and CyberAgent Ventures. JD.com already has an established e-commerce platform in Indonesia, and recently partnered with Thai conglomerate Central Group to enter Thailand. With… [Read full story]

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