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