Japanese Rakuten buys Jersey-based retailer Play.com

Rakuten, Japan's top internet retailer, has bought its British counterpart Play.com for about £25 million (just short of €30 million). Play.com is one of the biggest British e-commerce sites, specialised in the sales of DVDs, CDs and books. The webshop hopes the takeover can help them expand into such areas as clothes and accessories.

Expanding in Europe

Play.com is not the first European acquisition made by Rakuten: the group has already taken over sites like PriceMinister from France and Tradoria from Germany and is also active in Europe through Buy.com. The international expansion is necessary for the Japanese retailer as it faces threats like population decrease and lower consumer spendings in its home market. The group tries to achieve that expansion not only through acquisitions, but also through joint ventures like the one with China's main search engine Baidu.

Rakuten is currently active in over ten countries and employs more than 7000 people. Its newest acquisition Play.com is based on Jersey, technically not a member of the UK and not subject to British VAT rules.
 

Rakuten, Japan's top internet retailer, has bought its British counterpart Play.com for about £25 million (just short of €30 million). Play.com is one of the biggest British e-commerce sites, specialised in the sales of DVDs, CDs and books. The webshop hopes the takeover can help them expand into such areas as clothes and accessories.

Expanding in Europe

Play.com is not the first European acquisition made by Rakuten: the group has already taken over sites like PriceMinister from France and Tradoria from Germany and is also active in Europe through Buy.com. The international expansion is necessary for the Japanese retailer as it faces threats like population decrease and lower consumer spendings in its home market. The group tries to achieve that expansion not only through acquisitions, but also through joint ventures like the one with China's main search engine Baidu.

Rakuten is currently active in over ten countries and employs more than 7000 people. Its newest acquisition Play.com is based on Jersey, technically not a member of the UK and not subject to British VAT rules.
 

Questions or comments? Please feel free to contact the editors


Twelve-year sentence for Samsung's vice-president?

07/08/2017

Prosecutors in the Samsung corruption case have demanded a 12-year sentence for its former vice-president and de facto CEO of the South Korean company at the time, Jay Y. Lee, who has been charged with bribery and embezzlement.

Apple sales drop smaller than expected

02/08/2017

Apple has sold more iPhones in the third quarter of its fiscal year than it did last year, which was a surprisingly more positive feat than analysts had expected. Compared to the second quarter, there was further decline though.

Ceconomy (Media Markt) acquires quarter of Fnac Darty

26/07/2017

Ceconomy, Metro Group’s former consumer electronics division containing Media Markt and Saturn, acquired 24.3 % of Fnac Darty’s shares from the Pinault family.

 Blokker adds household appliance specialist AO.nl to Nextail

21/07/2017

Blokker Holding’s online organization, Nextail, will enter a strategic collaboration with online household appliance specialist AO.nl’s Dutch division.

Duo will lead Fnac Darty

17/07/2017

The Fnac Darty group is preparing for life after Alexandre Bompard, since its current CEO will start working for Carrefour tomorrow. He may actually be succeeded by a duo.

Samsung's new flagship yields record profit

07/07/2017

Korean technology company Samsung published record results for its past quarter thanks to its successful Galaxy S8 launch. The flagship product and an increased chip demand helped the company soar.

Back to top