Ti Ki Trading One Member Company Limited (Vietnam)

TIKI brand is known as an online sales platform with an ecosystem including members such as Ti Ki Company Limited ("Tiki"), Tikinow Smart Logistics Company Limited ("TNSL"), Ticketbox Company Limited, and the subject "Tiki Trading". The subject engages in retailing products online through the e-commerce platform. Tiki Trading is a form in which the stages of distributing goods are all performed by Tiki. All goods are labeled, proven to be 100% genuine, and guaranteed by Tiki. Consumer demand decreased sharply from the end of 2022 to the first half of 2023, causing the retail industry to face countless difficulties. In particular, the problem that greatly affects consumer confidence is mainly from macro factors, including inflation, Vietnam's economic recession, unemployment and the global economic recession. The gloomy time has passed in the first half of this year, the retail industry is moving towards a recovery period with many positive signs in the last months of the year to prepare for major year-end holidays and welcome the 2024 new year. Retail revenue of goods in the 11 months of 2023 is estimated to reach VND 4,420 trillion,  increasing by 8.6% over the same period last year (excluding the price factor, which increased by 6.8%). Of which, the group of cultural and educational items increased by 14.7%; food increased by 11.4%; apparel increased by 7.6%; Household appliances, tools and equipment increased by 6.3%; Vehicles alone (except cars) decreased by 3.3%. This may positively affect the company's business results this year.For the Tiki e-commerce site, Vietnamese e-commerce is inherently a fierce battle when Tiki's competitors are all experienced names such as Shopee, Lazada, TikTok Shop, Sendo, etc. However, up to now, the e-commerce battle seems to have been decided with Shopee leading. Tiki also cannot maintain its growth rate. The big change in the position of e-commerce platforms in Vietnam took place in the first half of 2023 when TikTok Shop surpassed Lazada, becoming the second-largest e-commerce platform. NMV revenue (Net Merchandised Value - total value of all successfully delivered orders) on e-commerce platforms in the first half of 2023 amounted to VND 92,745 billion, with nearly 400,000 shops generating orders and more than 900 million products being sold. Compared to the same period last year, e-commerce revenue in Vietnam increased by 46%. In particular, Shopee's market share from the beginning of the year until now has remained its position. Besides, Tiktok Shop is taking market share from the remaining e-commerce platforms. The two platforms Tiki and Sendo have very small sales compared to the top 3 (Lazada). Specifically, Tiki (5.8 million products sold and 17,800 shops with sales), Sendo (511,000 products sold and 9,800 shops with sales) ranked 4th and 5th respectively.