INTOUCH launches HIGH Shopping Co., Ltd. through a trust-based partnership with Hyundai Home Shopping

Business Press Releases Thursday April 2, 2015 15:00
Bangkok--2 Apr--อินทัช โฮลดิ้งส์

Representatives from Intouch Holdings Plc. and its subsidiaries, namely AIS, THAICOM, DTV and CS LOXINFO, witnessed a signing ceremony to establish a joint venture between Intouch Media Co., Ltd. and South Korea-based Hyundai Home Shopping Network Corporation (Hyundai Home Shopping) called HIGH Shopping Co., Ltd. (HIGH Shopping). This is a home-shopping business in Thailand with authorized capital of 500 million baht, of which Intouch Media has invested 255 million for a shareholding of 51% and Hyundai Home Shopping has invested the remaining amount for a shareholding of 49%.

MR.SOMPRASONG BOONYACHAI, Chairman of the Group Executive Committee, INTOUCH said: “In Thailand, the retail business is growing rapidly. Consumers require a convenient shopping channel such as home shopping, home delivery and e-commerce so this joint venture has a great potential for growth. The new investment will be part of our digital content business, which provides premium products and services through TV, mobile devices and the internet, leveraging the technology of the subsidiaries in INTOUCH Group such as the telecom, satellite platform, mobile network, and high speed broadband. HIGH Shopping will add more value to the digital content business and lead to more opportunities with tremendous growth potential.”

“HIGH Shopping is going to offer premium, high-quality products from South Korea and other countries such as kitchenware, cosmetics, supplementary food, electrical appliances and designer clothing through TV, mobile devices, the internet, and other advertising channels.

HIGH Shopping will leverage the technological and managerial competencies of the companies in INTOUCH Group along with the professional experience of Hyundai Home Shopping so both businesses will grow in the same direction,” MR. SOMPRASONG said.

MR. KANG CHAN-SUK, CEO – Hyundai Home Shopping Network Corporation, said: “Hyundai Home Shopping is regarded as a successful world-class South Korean company, and is expanding into international markets such as China and Vietnam. The home shopping market in Thailand is growing rapidly and extensively, and INTOUCH Group has the professionalism and technology to encourage growth, e.g. satellite TV platform, mobile device network, and high-speed internet broadband. This is the reason for a trust-based partnership with INTOUCH and we are sure this new business will achieve its goals. HIGH Shopping plans to begin advertising its products in the fourth quarter of this year through various sales channels, providing service excellence by modern technology. It is certainly a new dimension of home shopping in Thailand.”

The potentiality and professionalism of INTOUCH and Hyundai Home Shopping will be able to build confidence among consumers who are looking for convenient and reliable shopping channels. It is also the first step towards business expansion that will achieve a quantum leap in growth.

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