Retail in Asia

In Trends

Ookbee in e-commerce JV

Ookbee, ASEAN’s leading electronic bookstore platform, has entered into a joint venture with Tokyo-based business outsourcing service company Transcosmos to tap into Thailand’s rapidly growing e-commerce.

Ookbee Mall Co, a 70:30 venture between Transcosmos and Ookbee, is spending THB150 million (USD4.2m) to build its presence in the local e-commerce sector, said Natavudh Pungcharoenpong, co-founder of Ookbee Mall Co.

Thailand’s e-commerce industry offers huge potential for various players ranging from e-commerce companies and website operators to physical stores, said Natavudh. He acknowledged running an e-commerce business would require three to five years to break even because of fierce competition.

(Source: Bangkok Post)