Magazines Archives - 2010 Dec

Lekutian opens in China
Story 8 - E-commerce

JAPANESE e-commerce giant Rakuten Inc and Chinese search provider Baidu Inc have launched an online marketplace for businesses and consumers across China.

Known as Lekutian, the jointventure e-commerce portal is slated to provide consumers as well as small and medium-sized enterprises with choice merchandise, which range from fashion apparel to accessories, furniture and cosmetics. The portal will showcase popular Chinese and foreign brands.

The site will also feature some of Rakuten’s marketing programmes and free shipping privileges, while aiming to provide a “safe environment for consumers to enjoy Internet shopping” by implementing measures to screen merchants in order to counter and deter the sale of counterfeit goods across the portal, the company disclosed.

Koichi Nakamura, president and CEO of Lekutian, said: “The relationship between Rakuten and Baidu has been highly collaborative and productive. Through this joint venture, we are building not only the biggest online shopping mall, but we are [also] bringing to market an innovative platform that allows retailers from across the world to create fun and lasting direct relationships with Chinese consumers.”

The two companies will invest US$50 million to develop the site over the next three years, with Rakuten taking a 51% stake in the venture. ra

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