Tendersinfo keep you informed about the latest events in the national and international Procurement Industry. Procurement News provides in-depth coverage of the procurement industry, including contract awards, contract additions, new contract wins, mergers and acquisitions. Tendersinfo through its tender news section provides an update on all domestic and global tendering opportunities, invitation to bid & trade leads.

Publish Date : 16-Feb-2015

ITOCHU Corporation announced today that it has entered into a capital and business alliance with Defactostandard, Ltd., a consolidated subsidiary of BEENOS Inc., with the aim of further expanding the scale of the brand-name product buyback service “Brandear” and rolling out e-commerce operations globally. As part of the alliance, Defactostandard will be issuing new shares to ITOCHU via a private placement, making ITOCHU the second largest shareholder in the company after BEENOS.

Having launched Brandear in March 2007, Defactostandard has gone on to develop a “buyback service model” and establish a market-leading position for itself in terms of second hand e-commerce sales, thanks to its efficient operations underpinned by cutting-edge IT systems. Brandear operates based on a CtoBtoC model, whereby the company buys back designer goods sent in by customers, values them using its own unique marketing skills and expertise, and then lists them on online marketplaces (auction sites). In fiscal 2014, Defactostandard recorded the highest sales in the second hand e-commerce market. It has also achieved the best score on Yahoo Japan Auctions, one of the company’s sales channels, for five years in a row. In addition to conventional sales of IT equipment and services, ITOCHU also focused on IT-led business process outsourcing (BPO), and has actively invested in a string of domestic and overseas businesses as it has continued to expand its operations.

ITOCHU and Defactostandard have already worked together on an operational level, including increasing operating revenue from Brandear through an alliance with the ITOCHU Group, and providing procurement support of logistic materials in order to cut costs. Having entered into a capital and business alliance, ITOCHU now holds 10.8% of shares in Defactostandard, taking collaboration to the next level. In terms of specifics, the aim of the alliance is to expand operations overseas via ITOCHU’s global network (finding overseas sales partners, etc.) and to develop new business using Defactostandard’s operational startup expertise. As a result of this alliance, the BEENOS Group meanwhile will be working with the ITOCHU Group to jointly establish a new online distribution model, focusing particularly on business based on cross-border platforms.

Go to previous page