default-output-block.skip-main
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

JD.com, VNG Corp Lead Investment in Vietnamese E-Commerce Firm Tiki.nv

JD.com co-led the financing with Vietnamese entertainment and social media firm VNG Corp, which is an existing investor.
JD.com staff at a warehouse and distribution facility | Source: Shutterstock
By
  • Reuters

BEIJING, China — Chinese online retail firm JD.com Inc said on Tuesday it has led an investment in Vietnamese e-commerce firm Tiki.vn, expanding its Southeast Asia business amid competition from Alibaba Group Holding Ltd and Amazon.com Inc.

JD.com co-led the financing with Vietnamese entertainment and social media firm VNG Corp, which is an existing investor, it said in a statement on Tuesday.

The firm did not disclose the size of the funding but said that JD.com will become one of Tiki's largest shareholders alongside VNG following the deal.

By Cate Cadell; Editor: Edwina Gibbs

In This Article
Topics
Organisations

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from China
On-the-ground intelligence and insights from the world’s largest fashion market.

While travel to Europe remains muted, Chinese shoppers are flocking to Singapore, Thailand and other Southeast Asian destinations where fashion retailers are hoping Lunar New Year marketing investments will pay off.


Local fashion designers experimenting with puffers and other down clothing have scored collaborations with outerwear companies like Moncler and attracted the attention of prominent international retailers like H.Lorenzo.


Despite the country’s protracted property crisis, deflationary pressures and other economic headwinds, its domestic luxury market is expected to grow 4 to 6 percent in 2024, outpacing both Europe and the US.


view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
BoF Professional Summit - New Frontiers: AI, Digital Culture and Virtual Worlds - March 22, 2024
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
BoF Professional Summit - New Frontiers: AI, Digital Culture and Virtual Worlds - March 22, 2024