China based JD.com has signed the share subscription agreement as a co-lead investor in Series C financing in Vietnam based Tiki. The Series C round is subject to customary closing conditions and upon the completion of which, JD.com will be one of the largest shareholders of Tiki.
Partnering with Tiki in merchandising, cross- border trade, logistics and fulfillment, technology, financing and operational capabilities, JD is adding its Southeast Asia presence with e- commerce platform in Indonesia and a recent partnership with Thai conglomerate Central Group in Thailand and the latest one in Vietnam.
According to Winston Cheng, President of International at JD.com:
“We are very excited to continue our Southeast Asia expansion with Tiki, a company that has a deep understanding of Vietnam and a reputation for outstanding customer service. With JD’s expertise in leveraging social media for e-commerce, Tiki’s partnership with VNG in social network and mobile payments is a natural fit as we aim to provide differentiated services to suppliers and consumers in Vietnam. We look forward to working with Tiki to deliver a truly world class e-commerce experience to Vietnamese consumers.”
Son Tran, Tiki’s Founder and CEO also said:
“We are delighted to partner with JD.com, China’s most trusted online retailer, as we enter a new phase of growth. JD and Tiki share the same business philosophy: to win market share by winning consumers’ heart. Since inception, Tiki has always focused on best-in-class, authentic shopping experience and amazingly fast delivery. We believe JD.com, with its proven track record in superior user experience, procurement, logistics, and technology will be an invaluable asset for Tiki as we work to become Vietnam’s top e-commerce platform.”
By provider wider authentic global brands to consumers, this Tiki and JD collaboration also plans to help Vietnamese local brands to expand internationally.
Tiki has been consistently growing triple- digits annually over the past seven years which is triple the industry average and partnership with JD.com will definitely assist Tiki to achieve Tiki’s vision to become Vietnam’s largest and most trusted e- commerce platform.
Founded in 2010 and based in Ho Chi Minh, Vietnam, Tiki Corporation is an online retailer for books and it also offers phone, digital equipment and accessories, electrical appliances, life house products, beauty and health products, stationery, toys and souvenirs, mother and baby sports products
Operating as an e-commerce company in China, JD.com operates in two main segments: JD Mall and New Businesses. JD.com sells mobile handsets, consumer electronics products, and auto parts and accessories; home appliances; and general merchandise products directly to customers while it also provides an online marketplace for third- party sellers to sell products through its website and mobile application. Based in China, JD.com employs around 137975 employees.