GigaMedia snaps up StrawberryNet.com
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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.
Questions & Answers
Q.What is the primary business of GigaMedia, the company acquiring a stake in Strawberry Cosmetics?
What is the primary business of GigaMedia, the company acquiring a stake in Strawberry Cosmetics?
GigaMedia is a web-based video games and computing services supplier. Its focus includes mobile games, social casino games, and providing critical communications services and IT solutions to enterprises in Greater China.
Q.Which geographical regions have historically been StrawberryNET.com's strongest markets for sales?
Which geographical regions have historically been StrawberryNET.com's strongest markets for sales?
In recent years, StrawberryNET.com has achieved annual sales exceeding $200 million primarily in Oceania, the United States, and Europe. It also has growing business in Asia.
Q.What is GigaMedia's main strategic reason for purchasing a stake in Strawberry Cosmetics?
What is GigaMedia's main strategic reason for purchasing a stake in Strawberry Cosmetics?
GigaMedia believes the acquisition will help diversify its overall business risks and expand its portfolio within the internet and technology sector, allowing it to tap into the fast-growing beauty and cosmetics e-commerce market.
Q.How many different brands and products does Strawberry Cosmetics offer through its global sourcing network?
How many different brands and products does Strawberry Cosmetics offer through its global sourcing network?
Strawberry Cosmetics has established a global sourcing network that includes more than 700 brands and 30,000 SKUs (stock keeping units) of beauty products. Their website is translated into 38 languages.
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