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Vietnam based e-commerce startup is expanding in China to challenge Alibaba

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OpenCommerce, a Vietnam-based online shopping startup, raised $7 million from its investor, VNG, an internet giant. The company is the first of its kind to utilise the funding to branch out in China, challenging the existing e-commerce giants like Alibaba and Jd.com. OpenCommerce provides services to indirect and direct cross-border merchants known as Drop Shippers. The firm claims that since its launch, 80,000 global merchants have used its services to export goods, find suppliers and create websites. Among these 80,000 merchants, 30% belong from China, creating an attractive market in the region for the company. The firm primarily targets inventory and focuses on the operations by working directly with suppliers to source, create and ship goods.

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Consumer Goods industry will surpass $15T globally by 2025. However the old business model of mass distribution is about to become obsolete. Digital Transformation, Millennials and Gen Z effect, Direct to Consumer and Post-Covid World are going to reshape the winning formula for the new era CG industry. Our weekly newsletter covers global innovations and disruptions in CG industry.

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