(Yicai Global) Dec. 17 -- Chinese parenting community and e-commerce platform Babytree Group intends to set up a joint venture in Japan with Tokyo Metropolitan Television Broadcasting in order to sell its baby goods to the archipelago nation.
The pair will also create intellectual property and other content to distribute via Babytree's website and online retail, social media and news platforms like Tmall, Douyin and Toutiao, Beijing Business Today reported, citing local firm Babytree as saying at a press briefing in Tokyo yesterday. It did not disclose details of the investment amounts or the JV's shareholding ratio.
Babytree expects tens of millions of mothers to buy the products and write reviews on its online community, it added.
Several Japanese firms attended the press conference, including baby bottle maker Pigeon, disposable hygiene products maker Unicharm, jewelry firm Mikimoto, beauty retail Yamano, regional radio and TV firm Asahi Broadcasting, Mizuho Bank and Alibaba-owned Taobao's local streaming service.
Editor: James Boynton