Snapdeal to sell Japanese products on its platform

BT Online        Last Updated: March 16, 2017  | 17:37 IST
Snapdeal to sell Japanese products on its platform

E-commerce major Snapdeal has partnered with Japan External Trade Organization (JETRO), to showcase popular Japanese SME products on the online marketplace.

"Customers can now purchase JETRO products across various categories including electronic devices, accessories, kitchenware and personal care directly from Snapdeal," a company release said.

The partnership allows Snapdeal to further expand its portfolio, and JETRO to create niche space for these companies and their products in the booming Indian market.

"Japanese consumer products have been well received by consumers all over Asian countries and they are a preferred choice over products from other countries," Kazuya Nakajo, Chief Director General of JETRO India said.

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The e-commerce company will feature a curated store exhibiting products ranging from contact lenses, stationery, electronic device accessories, kitchenware, personal care, storage and display as well as sewing, the statement added.

The partnership comes amid Japanese telecom giant SoftBank Corp reporting an investment loss of 39.28 billion yen (USD 350 million) on its investments in India, including those in cab-hailing firm Ola and e-commerce company Snapdeal.

Last month, Snapdeal co-founders Kunal Bahl and Rohit Bansal took a 100 per cent salary cut, while many others at the firm have "proactively" offered significant reduction in compensation.

The SoftBank-backed firm, which has been struggling to raise fresh funding, also laid off hundreds employees and eliminating non-core projects to focus on "profitable growth".

In an e-mail to employees, Bahl conceded that over the last 2-3 years, with all the capital coming into this market, the company and the entire industry "started making mistakes".

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