Chinese e-commerce firm JD.com has invested $44 million in Tiki.vn, a Vietnamese e-commerce company founded in 2010, to serve the latter’s expansion plans, which includes training human resources, optimising transport to and from its warehouses and to conduct a study on promoting the Tikinow service, which is the company’s fastest click-to-delivery service.
The investment will help Tiki compete with existing domestic giants like Sea’s Shoppee Vietnam and Alibaba’s Lazada Vietnam, according to a news agency report.
In October, Tiki had tied up with FWD Life Insurance in the first deal in Vietnam between an e-commerce website and an insurance firm.
Established as a start-up e-bookstore, the company has since diversified to sell phones, tablets, digital devices, electrical appliances, toys, and souvenirs. In May 2016, Vietnam's top provider of Internet content VNG Corporation completed a $17.02-million deal to acquire a 38 per cent stake in Tiki. (DS)
Fibre2Fashion News Desk – India