Japanese Rakuten to turn off proprietary electric business to online market

News and Information http://www.aliyun.com/zixun/aggregation/17197.html "> Beijing time January 15, The UK online retailer, COM, has announced that it will close its proprietary retail business to the online market from the beginning of this March.

September 2011,. com was bought by Japan's Electric company Rakuten, the acquisition price of 39.3 million U.S. dollars. At that time,. com, with 14 million registered users, is one of the largest online retailers in the UK.

. com is headquartered in Jersey, UK. The company said the move was due to the end of the VAT relief on Low-value goods. Under this preferential policy, the site will be free of VAT on goods sold in the UK at a price below £ 15 per cent. The British Government concluded this preferential policy in April 2012.

After shutting down its proprietary retail business, it will cut its 147 employees in Jersey, as well as 67 employees at Cambridge and Bristol offices in the UK. The site will not sell goods directly to consumers, but more like a market manager.

"We want to focus on successful market operations in the future, which will be our main business area," said a statement. We will also give up the direct business. A spokesman for the company confirmed that the business adjustment meant that the company would completely withdraw from Jersey. After the reorganization, the company will retain 200 employees at Cambridge.

Alan Maclean, the Jersey Economic Development Minister, Alain Mcklinn about 600 people have lost their jobs because of the end of the VAT relief on Low-value goods. "I feel sad that this is a Jersey company that is built on the island, operates well and becomes a global brand," he says. We will work with other companies and entrepreneurs to help them create the next. com. ”