Rakuten To Launch Internet Shopping Mall in Malaysia

KUALA LUMPUR, May 24 (Bernama) -- Rakuten Inc, Japan’s top e-commerce company, plans to launch an Internet shopping mall in Malaysia, Rakuten Online Shopping. In a statement Thursday, Rakuten said the service would introduce consumers in Malaysia to an entirely new and unique online shopping experience. "Rakuten is currently recruiting merchant partners to populate its online shopping mall leading up to its launch in late 2012," it said. Rakuten Online Shopping president/chief executive officer, Masaya Ueno, said Malaysia was an attractive market owing to its economic stability and well-equipped infrastructure for the development of e-commerce, including Internet, logistics and online payment facilities. "Malaysia's market growth and encouraging online shopping trends present Rakuten with a bright opportunity in this market," said Ueno. He said the company would focus on offering consumers in Malaysia the best local and international goods while employing Japan’s world famous customer service standards. Ueno said Rakuten Online Shopping expanded its footprint in South-East Asia, marking its third e-commerce market entry in the region, following TARAD.com in Thailand in 2009, and Indonesia’s Rakuten Belanja Online in 2011. "The market indications validate our timely entry into the market. At this initial phase, Rakuten seeks to partner mid-sized and large retailers across industries in Malaysia including fashion and apparel, information technology and electronics, books and luxury goods," he said. He said Rakuten was expanding globally and currently has operations throughout Asia, Western Europe and the Americas. Ueno said Malaysia boasted a high Internet penetration rate among the Asean countries, and the online shopping market was set to grow at an accelerated pace in the future. "Internet retailing reached RM842 million (US$267.9 million) in 2011 and the number is expected to exceed RM1.9 billion (US$604.5 million) by 2016," he said. The Tokyo-based Rakuten, founded in 1997, has over 10,000 employees and partner staff worldwide. -- BERNAMA