Seiko Epson to invest in Chinese photo printing kiosk venture
TOKYO, NNA - Major Japanese printer maker Seiko Epson Corp. will invest in a Chinese photo kiosk printing service venture as part of a mid-term business strategy to accelerate growth through collaboration and innovation with promising partners.
Seiko Epson said Monday that its wholly owned China headquarters, Epson (China) Co., plans to invest in Nanjing Kungfu Bean Information Technology Co. and partner in inkjet printing business.
Nanjing Kungfu, established in 2016 in the eastern coastal province of Jiangsu, has installed about 53,000 printing kiosks in shopping malls, restaurants and universities across the country, chief operating officer Huang Li told NNA in a telephone interview Tuesday.
The Chinese startup is expanding such installments from large cities to smaller ones, he said, adding its capital alliance with Seiko Epson marks the first capital tie-up with a foreign firm.
The Chinese firm said it has gained over 60 million followers for its WeChat social networking account, leveraged by its free photo printing service and benefited from advertisement revenue by posting ads on printed photos.
The Chinese venture has used Seiko Epson brand printers for its service since its launch, Huang said, adding the firm hopes to “better serve customers with the Japanese firm's high technology, fast and convenience service.” (NNA/Kyodo)