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Rakuten opens its first store on South Korea’s e-marketplace

Rakuten Inc., Japan’s e-commerce giant, has opened its online flagship store on 11STREET, one of South Korea’s leading online marketplaces.

The store will aim to provide South Korean consumers with popular Japanese merchandise and
will feature a variety of fashion goods, beauty, and sports products.

Ryoji Yasutome, Vice Senior Manager, Cross Border Trading, Rakuten said, “11STREET is a vibrant and innovative online marketplace and we’re excited to be partnering with them on this new cross-border initiative.”

The South Korean e-marketplace has a global network of 260,000 sellers, small merchants, brand names, department stores and supermarket chains serving 23 million registered members in the home market and abroad.

According to factual statistics, shoppers spend $6 billion annually on this site.

Joon Young Park, Senior VP, 11STREET said, “Korean consumer demand for high quality Japanese and international goods continues to grow at a double figure rate. 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.”

Moving forward, 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.

As per the two companies, they will also jointly provide support services to participating merchants such as translation, listings, merchandising advice, shipping and customer support.