Tokyo, October 31, 2016 – Rakuten, Inc., operator of Japan’s largest online shopping mall Rakuten Ichiba, today announced the opening of a Rakuten online flagship store on 11STREET, one of South Korea’s leading online marketplaces. The newly launched store aims to provide South Korean consumers with high quality and popular merchandise from Japan.
At the time of launch, Rakuten’s online flagship store will feature a variety of fashion goods, beauty and sports products from leading Japanese merchants.
“Rakuten is delighted to announce this collaboration to offer Korean consumers a great variety of high-quality products from popular Rakuten merchants in Japan” said Ryoji Yasutome, Vice Senior Manager Cross Border Trading at Rakuten. “11STREET is a vibrant and innovative online marketplace and we’re excited to be partnering with them on this new cross-border initiative.”
11STREET has a global network of 260,000 sellers, small merchants, brand names, department stores and supermarket chains serving 23 million registered members in its South Korean home market and abroad with shoppers spending $6 billion annually on its sites.
“Korean consumer demand for high quality Japanese and international goods continues to grow at a double figure rate,” said Joon Young Park, Senior VP at 11STREET. “Through our partnership with Rakuten, we are able to offer our customers a more exciting cross-border shopping experience with a larger selection of popular products from Japan.”
Rakuten will introduce products to 11STREET customers from categories such as health, living, kitchen, and hobby items and will continue to expand the product line-up over the coming months. 11STREET and Rakuten will provide support services to participating merchants such as translation, listings, merchandising advice, shipping and customer support.
Rakuten continues to expand cross-border trading building on the successes of Rakuten flagship stores launched on JD.com and Kaola.com in China, as well as Gmarket in South Korea.
Rakuten Flagship Store on 11STREET:
Rakuten, Inc. (TSE: 4755) is one of the world's leading Internet services companies, offering a wide variety of services for consumers and businesses with a focus on e-commerce, finance, and digital content. Since 2012, Rakuten has been ranked among the world’s ‘Top 20 Most Innovative Companies’ in Forbes magazine’s annual list. Rakuten is expanding worldwide and currently operates throughout Asia, Europe, the Americas and Oceania. Founded in 1997, Rakuten is headquartered in Tokyo, with over 12,000 employees worldwide.