China’s largest retailer, JD.com, has continued to grow its presence in the South East Asian market. The giant has signed a share subscription agreement as co-lead investor in Tiki – Vietnam’s leading Business to Consumer (B2C) e-commerce platform.
Once JD.com’s latest investment is completed, they will become one of Tiki’s largest shareholders.
JD’s growing portfolio in South East Asia include their own platform in Indonesia in 2015, and a recent partnership with Central Group to enter Thailand in 2017.
The partnership with Tiki will include involvement in areas such as merchandising, cross-border trade, logistics and fulfilment, technology, financing, and operational capabilities.
Winston Cheng, president of international at JD.com said that Tiki are a company with a deep understanding of Vietnam and a positive reputation for outstanding customer service.
Tiki’s founder and CEO, Son Tran, is also pleased with the partnership, noting that JD and Tiki share the same business philosophies.
“Since inception, Tiki has always focused on best-in-class, authentic shopping experience and amazingly fast delivery. We believe JD.com … will be an invaluable asset for Tiki as we work to become Vietnam’s top e-commerce platform,” said Tran.
Tiki and JD.com will work to grow global brands, as well as helping local Vietnamese brands expand internationally. Tiki has enjoyed triple digit growth in the seven years since its inception.
