Sumitomo Corporation Archives - Inside Retail Asia
Japanese retail giant Seven & I Holdings is to acquire 49.9 per cent stake in Barneys Japan. Barneys Japan currently has 10 stores, including five outlet stores across the country. Seven & I, which operates 7-Eleven convenience stores and Seibu and Sogo department stores, will buy the stake from Tokio Marine Holdings for 6 billion yen ($58.7 million). It will make Seven & I the second largest shareholder of Barneys Japan after Sumitomo Corporation.
Japanese corporation Sumitomo is setting up online businesses in Malaysia and Vietnam. Sumisho E-commerce Malaysia will launch in December 2013 and will offer a wide range of household products. Initially, the online shop will primarily serve customers in Kuala Lumpur but it is planning to expand its coverage area for deliveries. Meanwhile, in Vietnam the company has taken a 30 per cent stake in Tiki Corporation, an e-commerce operator selling books and other items online. Sumitomo will…
Bain Capital Group takes 50 per cent stake in Japanese TV shopping company Jupiter Shop Channel.
French handbag company Lancel terminates JV with Japanese partner.