Tuesday, May 30, 2023

Celcom Planet to invest RM35 million to promote online marketplace 11street

11street, Korea’s largest optimised online marketplace, announced that its Malaysian version of online marketplace will be launched in April 2015. The Malaysian version of 11street is hosted by Celcom Planet, a joint venture company between SK Planet and Celcom Axiata. SK Planet is a wholly-owned subsidiary of mobile operator, SK Telecom.


The site also announced that it is now open for seller registration. Exclusive commercial benefits such as no store fee, 50 per cent discount on transaction fee, complimentary use of Seller Zone facilities, promotion credits and product listing coupons, will be given as part of the early-bird promotion package for new sellers who register before April 2015.

11street’s chief executive officer (CEO) in Malaysia, Hoseok Kim said “More than 35million Malaysian Ringgit (USD 10million) will be invested this year in various seller development programs, marketing and promotions to bring local sellers on-board and at the same time, to attract buyers to visit 11street in order to accelerate our online sellers’ reach to consumers.”

“Nonetheless, the total investment to drive sellers’ participation will increase especially when the number of sellers register to 11street exceeds our expectation.”

“11street plans to invite at least 11,000 sellers on-board by 2015 to ensure the delivery of an enriched shopping experience packed with a diverse range of products and services.” Kim says.

Kim continues, “11street is equipped with unique and sophisticated online merchandizing tools to support the complete online business set-up. Our ‘Seller Zone’ will be the first e-commerce education centre and support facility in Malaysia to advocate e-commerce sellers, where e-commerce seminars and workshops will be given on a regular basis. ‘Seller Zone’ is among the most significant investments that 11street has put in to grow the Malaysia’s e-commerce sector.”

“In response to the mobility trends, we will also offer an integrated mobile interface and application upon 11 street’s official launch to support sellers in better managing their stocks, product marketing programs, payment settlements; and offer the analytics capability to help them retain customers with improved online shopping experience.”

Established in Korea since 2008 by SK Planet, 11street is one of the top global e-commerce marketplaces with presence in Turkey and Indonesia. As of today, 11street has 22 million sellers serving over 40 million consumers worldwide with annual gross merchandise value of USD6 billion (~RM19.8 billion).

The 11street Malaysia partnership was announced by Celcom Axiata in November last year. Exabytes recently signed a Memorandum of Understanding (MoU) agreement with Celcom Planet to collaborate on the soon to be launched 11street Malaysia e-commerce marketplace.

Kugan is the co-founder of MalaysianWireless. He has been observing the mobile industry since 2003. Connect with him on Twitter: @scamboy

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