Japanese’s global e-commerce model enters India
Japan’s MonotaRO Co Ltd [TYO: 3064] expects to efficiently develop its business in the Indian market with US$15 million investment in a Joint venture with Industrybuying.com (Emtex).
The investment would help grow Industrybuying’s SME e-commerce business in India.
Emtex has transferred its SME business into JV, and continues to grow its Large enterprise businesses independently, MonotaRO, Japan’s largest MRO B2B e-commerce company, announced on 23 September 2020.
Industrybuying.com now has access to MonotaRO Japan’s know-how, product portfolio, supplier network and e-commerce expertise to develop a market leadership position in India.
MonotaRO, majority-owned by Grainger Inc [NYSE GWW], also gives Industrybuying access to global expertise and infrastructure in the MRO Ecommerce space.
MonotaRO, which has majority control on JV, gets entry into the very large, emerging and attractive India B2B e-commerce market via a well-established, profitable platform.
MonotaRO commented that “Through this JV, the company expects to efficiently develop its business in the Indian market, which is expected to grow significantly in the future, by utilizing the E-Commerce business model that Emtex has already established in India (industrybuying.com) and based upon the knowledge that the company has obtained through developing businesses in Japan and in other countries around the world.”
Industrybuying management commented that “MonotaRO’s deep e-commerce expertise and catalog of over 10m products can propel India business to a highly profitable, IPOable growth trajectory in a very short time.
“So, we are excited to be partnering with them in this phase of our growth. Parallely, we continue to grow our large enterprise and other businesses independently and profitably.” #investment #e-commerce #technology #trade /fiinews.com