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| The group has already bought a 30 per cent of stake of a HCM City-based company specialising in online stationery and garment trading services as a start for its penetration into the Vietnamese market.— VNS Photo |
TOKYO (Biz Hub) — Japan's Sumitomo Group will participate in the e-commerce business in Viet Nam, according to the daily Nikkei.
The group has already bought a 30 per cent of stake of a HCM City-based company specialising in online stationery and garment trading services as a start for its penetration into the Vietnamese market.
In the initial stage, Sumitomo will provide food, cosmetics and household utensils to serve the demand of young customers who love Japanese products.
At present, its Vietnamese associate is capable of supplying about 40,000 items and the figure is expected to increase to 100,000 by 2015.
As a leading Japanese group on online business, Sumitomo expanded its operation to China in 2011 and Indonesia one year later.
It has set up an affiliate in Malaysia, which is scheduled to become operational in December this year.