Food
Taiwan’s GigaMedia, a web-based video games and computing providers supplier, is to purchase 70 per cent of worldwide eCommerce cosmetics retailer Strawberry Cosmetics.
Taipei-based, Singapore-listed GigaMedia can pay about US$93.1 million for the stake.
Strawberry Cosmetics owns and operates the web site StrawberryNET.com and the associated cellular software. It has a complete gross sales and distribution community masking main nations worldwide, with growing enterprise in Asia, is translated into 38 languages and has a worldwide buyer base of greater than three million.
Strawberry Cosmetics has additionally established a worldwide sourcing community of a complete vary of magnificence merchandise with greater than 700 manufacturers and 30,000 SKUs.
During the last 4 years the web site has achieved annual gross sales exceeding $200 million, largely in Oceania, the US and Europe.
GigaMedia believes Strawberrynet.com has vital progress potential in Asia.
“As Strawberry Cosmetics is a longtime and confirmed eCommerce platform with an present buyer base, the corporate is of the view that the transaction would assist diversify the corporate’s general enterprise dangers and broaden the corporate’s enterprise portfolio within the web and know-how sector and permit the corporate to faucet into the quick rising magnificence and cosmetics eCommerce market,” GigaMedia stated in a press release.
It sees potential vital synergies from leveraging its IT, on-line and offline advertising, in addition to its native connections in numerous Asian nations together with China, Japan and South Korea.
GigaMedia’s on-line video games enterprise is an progressive chief in Asia with rising recreation improvement, distribution and operation capabilities, in addition to platform providers for video games; focus is on cellular video games and social on line casino video games. The Firm’s cloud computing enterprise is concentrated on offering enterprises in Higher China with essential communications providers and IT options that improve flexibility, effectivity and competitiveness.
