Japan's Rakuten to close Singapore, Malaysia, Indonesia online marketplaces


SINGAPORE: Japanese online retailer Rakuten Inc plans to close its early model e-commerce marketplaces in Singapore, Malaysia and Indonesia as part of the company's strategy overhaul.

The closure of the three markets will affect fewer than 150 employees in the region, Rakuten said in an email. "In SE Asia, as the market itself changes and adapts, we are looking toward C2C (customer to customer) and mobile business models for e-commerce and other businesses," Rakuten said.

Rakuten's e-commerce in the region currently operates under the B2B2C model, or business-to-business-to-consumer, which combines business-to-business and business-to-consumer models.

Rakuten announced that its strategy would include introducing C2C mobile services across the globe.

In Southeast Asia, Rakuten competes with the likes of Rocket Internet SE's Lazada in the ecommerce segment.

Rakuten will maintain its regional Asian headquarters in Singapore and continue to operate other businesses in the region, including Rakuten Travel, Viber, Kobo, Rakuten Institute of Technology and Rakuten Ventures, while looking for new opportunities for growth in Southeast Asia, the company said. – Reuters

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
   

Did you find this article insightful?

Yes
No

Next In Regional

Covid-19: 1,555 new cases, six fatalities bring death toll to 1,141
KLCI stays range-bound, market breadth negative
Thai PM orders study on 'vaccine passports' to boost tourism
Bank Negara seen holding key rate as infections slow, Covid-19 vaccination starts
Yahoo Japan parent merges with Line
Tokyo 2020 head to discuss COVID-19 steps with IOC's Bach, others on Wednesday
Bitcoin mining in northern Chinese province to be halted amid energy-saving push
From WeChat to Clubhouse: Xiaomi turns messaging app into social audio platform after shutting it down
TNB makes foray into Singapore RE market
WeChat’s emoji makeover removes cigar image to help stub out smoking among minors

Stories You'll Enjoy


Vouchers