CJ O Shopping begins to turn a profit in ThailandTelevision home shopping leader CJ O Shopping’s joint venture in Thailand raised a net profit for the first time since its establishment five years ago, according to the company on Monday.
Last year, home shopping channel GCJ sold 65 billion won ($59.8 million) worth of products - a 14 percent increase compared to the previous year - and generated an annual net profit of 200 million won. GCJ is the joint venture that CJ O Shopping launched in Thailand in 2012.
A market leader by sales, GCJ was also the only home shopping channel to raise a profit last year, CJ said. Between 2012 and 2016, the company was constantly in the red.
The joint venture has taken advantage of CJ O Shopping’s experience, becoming the first home shopping company to introduce live broadcasting in Thailand.
By Song Kyoung-son
More in Industry
No dial tone for 2G services on LG U+ starting in June
Ironing out an air corridor took decades
Kia reinvents itself, promising 'movement that inspires'
Hanwha Energy teams up with France's Total in U.S.
Scatter Lab investigated, but not for odd messages