Thailand's Intouch Holdings and Korea's Hyundai join hands to create a home shopping network

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Thailand's Intouch Holdings and Korea's Hyundai join hands to create a home shopping network

BANGKOK, 3 April 2015, (NNT) - Thailand’s Intouch Holdings and Korea’s Hyundai Home Shopping Network Corporation have joined hands in creating a home shopping network in Thailand.

The two giant companies invested 500 million baht in establishing HIGH Shopping Co. Ltd., with Intouch Holdings possessing a 51 percent stake, and Hyundai Home Shopping the remaining 49 percent.

Intouch Holdings stated that the retail market in Thailand continues to grow, as more and more customers turn to home shopping, home delivery and e-commerce.

The Thai company believes the home shopping business, which uses digital media such as television, smartphones, and the internet, would complement its existing telecommunications infrastructure. Intouch Holdings is the parent company of Advance Info Service, the largest mobile phone operator in Thailand, and Thaicom, Thailand's satellite operator.

Hyundai Home Shopping said that it is interested in Thailand’s market and recognizes its potential. The Korean company is confident in the joint venture, and expects to debut its shopping channel by the end of the fourth quarter this year.


-- NNT 2015-04-03

[nuananddon]

Competition for Lazada? Competition is a good thing in that business. So far we've been satisfied with Lazada.