financetom
Business
financetom
/
Business
/
Rakuten, eBay team up to test US market for used Japanese fashion goods
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Rakuten, eBay team up to test US market for used Japanese fashion goods
May 22, 2024 12:59 AM

TOKYO, May 22 (Reuters) - Japan's Rakuten Group ( RKUNF )

is partnering with eBay ( EBAY ) to test U.S. demand for used

Japanese fashion goods, made all the cheaper with the yen

trading near a 34-year low.

The tie-up, which started on May 8 with just seven vendors

on Rakuten's ( RKUNF ) second-hand goods unit Rakuma, aims to capitalise

on the currency effect and also a move toward bargain hunting as

cost-of-living pressures around the world crimp spending.

eBay ( EBAY ) lists Rakuma's selected goods through its site and

handles shipping and customer service in the U.S. in exchange

for commissions on sales.

The trial is starting with used fashion and accessories,

which have cachet overseas due to Japanese users' reputation for

treating their luxury goods gently, said Rakuma general manager

Kenichiro Hasegawa.

"Because of the use of cases and covers and such, these

second-hand goods are in quite good shape," Hasegawa said. "To

say something is 'used in Japan' gives some immediate value."

The tie-up comes amid an investment and tourism boom in

Japan, partly fuelled by the yen's slide that has made the

country's goods relatively cheap. Second-hand stores, notably in

Tokyo's electronics district of Akihabara, have been swarmed by

overseas customers looking to snap up vintage games and toys.

Rakuten ( RKUNF ) did not provide a sales target for the venture with

eBay ( EBAY ). Hasegawa said there has not been any feedback from the

seven vendors yet, but if the trial goes well the goal would be

to link up all Rakuma shops and users with eBay ( EBAY ).

Used and refurbished items make up about 40% of eBay's ( EBAY ) gross

merchandise volume. Global sales of "thrifted" clothing, shoes,

and accessories increased more than five-fold in March 2024 from

the year before, the company said.

After the U.S., eBay's ( EBAY ) next biggest markets are Canada,

Australia, the United Kingdom, and Germany, and its "ultimate

goal" would be to expand Rakuma offerings to those countries,

said Naoki Kitamura, eBay Japan's head of category management.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
TIMELINE-23andMe's journey from DNA testing pioneer to bankruptcy sale
TIMELINE-23andMe's journey from DNA testing pioneer to bankruptcy sale
May 26, 2025
(Updates paragraph 1, adds national security review, house committee testimony and Regeneron acquisition in paragraphs 21 to 23) May 19 (Reuters) - Drugmaker Regeneron Pharmaceuticals is acquiring majority assets of bankrupt genetic testing firm 23andMe Holding ( MEHCQ ) for $256 million. The once-sizzling DNA-testing startup filed for bankruptcy in March, hit by faltering demand for its ancestry testing kits...
Update: Novavax Says COVID-19 Vaccine Approved by FDA; Shares Rise Pre-Bell
Update: Novavax Says COVID-19 Vaccine Approved by FDA; Shares Rise Pre-Bell
May 26, 2025
08:32 AM EDT, 05/19/2025 (MT Newswires) -- (Updates with information throughout.) Novavax ( NVAX ) said Monday that the US Food and Drug Administration has approved the Biologics License Application for its COVID-19 vaccine Nuvaxovid. The FDA approved the vaccine for patients aged 65 and older, as well as patients aged 12 through 64 who have underlying medical conditions, the...
National Energy Services Reunited to Offer Warrant Exchange
National Energy Services Reunited to Offer Warrant Exchange
May 26, 2025
08:34 AM EDT, 05/19/2025 (MT Newswires) -- National Energy Services Reunited ( NESR ) said Monday that it plans to start an exchange offer for its outstanding warrants to purchase ordinary shares. The company said it plans to offer all warrant holders the opportunity to receive 0.10 ordinary shares in exchange for each outstanding warrant tendered. The company said it...
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Copyright 2023-2026 - www.financetom.com All Rights Reserved