The European department stores La Rinascente, Illum and KaDeWe could be sold online shortly in Thailand, as parent firm Central Group formed a joint venture with JD.com to investUS$500 million into Thailand’s online retail and financial sectors. In June, Alibaba invested an additional US$1 billion to boost its stake to 83% in the Lazada online retailer. “E-commerce is ready to explode in Thailand,” said Central Group C.E.O, Tos Chirathivat.
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