apan’s Sumitomo Group will participate in the e-commerce business in Vietnam, according to the daily Nikkei.
The group has already bought a 30 percent of stake of a Ho Chi Minh City-based company specialising in online stationery and garment trading services as a start for its penetration into the Vietnamese market.
In the initial stage, Sumitomo will provide food, cosmetics and household utensils to serve the demand of young customers who love Japanese products.
At present, its Vietnamese associate is capable of supply about 40,000 items and the figure is expected to increase to 100,000 items by 2015.
As a leading Japanese group on online business, Sumitomo expanded its operation to China in 2011 and Indonesia one year later. It has set up an affiliate in Malaysia, which is scheduled to become operational in December this year.-VNA