TransCosmos, a Japan-based IT outsourcing company for corporate clients, has according to its President and Chief Operating Officer, Masataka Okuda, agreed to acquire more than 30% of the outstanding equity interests of Berrybenka, an Indonesia-based online fashion department store. The investment was strategic to TransCosmos’ Indonesian call centre business.
Berrybenka has seen fast paced growth since it first started off in August 2011 as a small online fashion store. In a relatively short span of time, the company has attracted three rounds of funding, initially with an undisclosed amount of seed capital from East Ventures in 2012. It raised an undisclosed amount from Gree Ventures in 2012. The number of brands available on the site has increased from just 50 in March 2012 to a current 500 brands in stock.
According to a press release, Indonesia’s e-commerce market is estimated to grow to more than four times its current size by 2015, so investors are getting in early. With the recent injection of capital, Berrybenka.com’s management team will expand the distribution warehouse space, as the number of shipments is increasing rapidly, and will also enhance corporate branding.
TransCosmos’ Okuda said of the investment: “TransCosmos established TransCosmos Indonesia Call Center operations in June 2013, regarding the Indonesian market as a highly important target. This time strategic investment with Berrybenka.com, the company will be able to accelerate “E-Commerce One-Stop Services” in the Indonesian market, which has huge potential backed by a population of 240 million people, the largest in the ASEAN region.”
In connection with this strategic investment, TransCosmos plans to send executive officers and other personnel to accelerate the e-commerce business of Berrybenka.com, including customer support systems, call centre systems and digital marketing.
Jason Lamuda, Chief Executive Officer of Berrybenka.com, said that the investment would help accelerate the company’s plans to offer new services, such as Cash-On-Delivery, 1-day delivery options, new product categories, mobile apps and a personalization/recommendation service.
Photo: From left, PT Cyberindo Aditama President/CEO Dani Sumarsono and TransCosmos President and Chief Operating Officer Masataka Okuda