CTK Cosmetics Provides 'Fulfillment' to Shipbap, Invested by Masayoshi Son

[Asia Economy Reporter Junho Hwang] CTK Cosmetics announced on the 18th that its US subsidiary CTK USA has signed a strategic partnership agreement for fulfillment services with the US logistics startup ShipBob.

Under this agreement, CTK USA will provide comprehensive logistics services including storage, packaging, shipping, and inventory management within California for products sold through ShipBob's clients on major e-commerce platforms and channels, operating from the CTK Fulfillment Center located in Ontario, California.

ShipBob is an on-demand delivery startup offering optimized logistics processes worldwide. It integrates with leading US e-commerce platforms such as eBay, Amazon, and Shopify to provide unified order management services, securing thousands of sellers who sell products on US e-commerce platforms as its customers. It also attracted an investment of $68 million through a Series D round led by SoftBank Vision Fund 2, headed by Chairman Masayoshi Son. The total investment amount reaches $130 million.

Jay Woo, CEO of CTK USA, stated, "With this agreement with ShipBob, we expect a significant increase in logistics volume at the CTK Fulfillment Center, and we are currently negotiating additional contracts to continue collaboration as a strategic partner not only in the US West Coast but also in the Asian region where the CTK Group has strengths." He added, "Besides ShipBob, we are receiving fulfillment service requests from various domestic and international companies, and we are also considering expanding the fulfillment center to handle additional volume."

This content was produced with the assistance of AI translation services.