Mr Max to launch cross-border e-commerce in Shanghai
TOKYO, NNA – Mr Max Holdings Ltd., a Japanese discount store chain operator, will launch a joint cross-border e-commerce venture in China this summer to accelerate its e-commerce business in the country.
Mr Max, based in Fukuoka, southwestern Japan, is set to sign an agreement with two partners, possibly as soon as next month, on the establishment in August of the joint venture in Shanghai for the sale of Japanese daily necessities, according to the company.
The Japanese retailer will team up with Hailu (Hangzhou) Network Technology Co., a Chinese online advertising and sales consulting agency, and High-Lines Co., an internet sales system development venture in Tokyo.
Mr Max had conducted test sales since March 2019, a company spokeswoman told NNA on Thursday.
Through the joint venture, Mr Max's first overseas entity, the retailer plans to sell its own brand products, like kitchenware, via major e-commerce platforms, such as Tmall and Pinduoduo, she said.
Capitalized at 8 million yuan ($1.13 million), the planned venture will be 60 percent owned by Mr Max, with the Hangzhou-based firm taking 25 percent and High-Lines 15 percent, Mr Max said in a statement.
High-Lines, founded in Tokyo in 2016, helps Japanese apparel makers sell their products on major Chinese e-commerce sites such as Alibaba.com and JD.com.
Chen Hai Bo, its head, holds a 100 percent stake in Hailu (Hangzhou) Network, the statement said.
Mr Max had 57 stores at home as of the end of February, according to its financial statement. (NNA/Kyodo)