NHN Commerce Partners with Chinese Commerce Company 'Xinshen' for Global Distribution Business Alliance

NHN Commerce announced on the 18th that it has signed a strategic business agreement with Shinshen Group (hereinafter Shinshen) to expand the Chinese live commerce market and cooperate in global distribution business.

From the right, Lee Yunsik of NHN Commerce and Shinba Shinshyeon, the head of the group
[Photo by NHN Commerce]

Founded in 2017, Shinshen is a leading Chinese commerce company that has rapidly grown centered on live commerce. It has nurtured live commerce specialists (Wanghong) and independently established a distribution system based on the consumer-to-manufacturer (C2M) transaction model. To date, it has recorded cumulative sales of over 1.3 billion products from more than 10,000 brands.

Through this agreement, NHN Commerce will supply products to live commerce broadcasts by Wanghong affiliated with Shinshen, utilizing distribution rights of global and leading Korean brands. Both companies plan to jointly promote the exclusive distribution business of global brands within China and strengthen their influence in the local e-commerce market.

The two companies will actively seek to enter the global market beyond China by launching new brands through joint product planning. Additionally, they intend to strengthen their position as global distribution operators through joint investment and acquisition of global brands.

Specifically, NHN Commerce is preparing joint product development with 'W Lab,' which it acquired last April, and will diversify sales channels by conducting live broadcasts during the Guanggun Festival. NHN Commerce will distribute about 250 global luxury brand products, managed by 'Ikonic,' which it acquired, through the e-commerce platform 'Coltorti,' together with Shinshen in the Chinese market.

Lee Yoon-sik, CEO of NHN Commerce, said, "Through the business agreement with Shinshen, a leading Chinese commerce company, we will be able to rapidly enhance NHN Commerce’s competitiveness in the global distribution business," adding, "We plan to continuously expand the global commerce ecosystem by leveraging cooperation with leading global distributors."

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