Paul Ding Signs Mega Deal with S Korean Online Shopping Giant
New Zealand home shopping channel, Auckland-based Yes Shop, has signed a groundbreaking supply agreement with online shopping giant HMall of South Korea, which will see more goods being traded directly between the two countries.
HMall is the online platform of one of the world’s biggest online retailers, Hyundai Department Store Group and Hyundai Home Shopping.
The tie-up means manufacturers and producers in New Zealand will get the chance to take their products to a market of millions of active shoppers, whilst domestic consumers will be able to choose from a wider range of Korean goods shipped directly to their homes.
Korean buyers of New Zealand goods will also have their purchases shipped straight to their doorsteps from producers in New Zealand.
The deal, which will begin in May, is a major coup for the two-year-old firm, founded by Paul Ding.
The company produces hours of live and recorded home shopping programmes every week, which are shown through its 24-hour Sky/Freeview channels and online.
Ding said: “In this way the bilateral agreement is a first of its kind in the Western business world. It is a two-way opportunity that will see New Zealand products sold in Korea, and Korean products sold in New Zealand.
“South Korea is the world’s biggest and most vibrant home shopping market, where online sales have now overtaken offline store sales.”
Original article by Jayne Atherton, Stuff, April 26, 2015.