Women’s footwear vender Amagasa of Japan entering Indonesian e-commerce market
JAKARTA, NNA – Women’s footwear wholesaler and retailer Amagasa Co. is set to enter the e-commerce market in Indonesia to capitalize on its rapid growth.
Amagasa signed an agreement with Hong Kong-based retailer E-GoGo Ltd. and Indonesian venture capital PT. Insan Generasi Pemimpin (Indogen Capital LP) on Wednesday on a business tie-up to help the shoe vender establish an e-commerce network in Indonesia, Amagasa spokeswoman Nobuko Hojo in Tokyo told NNA on Thursday.
Under the agreement, PT Egogo Hub Indonesia, an Indonesian affiliate of E-GoGo, will conduct market research and develop a marketing strategy to help Tokyo-based Amagasa open its e-commerce website. Indogen Capital will team up with Egogo Hub to develop a market for Amagasa products.
Amagasa, which has been marketing women’s shoes in Hong Kong under the brand name “Jelly Beans,” is aiming to launch its e-commerce business in Indonesia on Oct. 1, it said in a statement on Tuesday.
Indonesia’s e-commerce market is expected to grow to an estimated $82 billion by 2025 as the Indonesian government aims to become Southeast Asia’s leading digital economy, the company said.
The shoe vender will also consider entering e-commerce markets in China, Taiwan, Vietnam and Singapore where E-GoGo is operating, the statement said.
E-GoGo, established in 2018, is a wholly owned subsidiary of Hong Kong-based electronics parts trader AV Concept Holdings Ltd. to support e-commerce transactions, and founded PT. Egogo Hub Indonesia the same year. The firm is supporting the operations of Indonesian e-commerce site Tokopedia and its Singaporean peer Shopee.
Indogen Capital is investing mainly in information technology startup companies in Indonesia.