E-commerce firm 11th Street in Thailand ‘to win’
11street Thailand has stated that its parent company, SK Planet, remains confident in the e-commerce market in Thailand and continues to have strong aspirations.
Hong Cheol Jeon, chief executive officer of 11street Thailand, said that since its official launch in February this year, 11street Thailand, which is a wholly owned subsidiary of SK Planet, has rapidly grown into one of the most prominent e-Commerce service providers in the country.
“We will continually drive the momentum we have built to become the market leader in Thailand. In addition, we plan to introduce innovative services through collaborations with local players, enhancing the user experience and value that our platform provides,” said Jeon.
He added that the company is in discussions with various business partners to explore strategic options in preparation for the next phase of accelerated growth.
Recent reports on SK Planet’s decision to exit the Indonesian market had spurred rumors that the company might leave other markets, including Thailand.
Jihnwoo Kim, vice president of Global Strategy & Business Development at SK Planet, said that the strategic decision to sell its Indonesian operations bears no relation to its aspirations in Thailand.
“Thailand is not only the second largest e-commerce market in Southeast Asia but its is also primed for robust growth. SK Planet aims to pursue its global aspirations by selecting battlegrounds where we can win, and along with Malaysia and Turkey, Thailand is one of the battlegrounds,” said Kim
