Itochu reveals Shanghai e-commerce platform

Shoppers who fly to Japan to stock up on their favorite food or other goods will be saved considerable time and money with the launch of an e-commerce platform which will deliver items within days from a warehouse in Shanghai.

Japanese conglomerate Itochu Corporation said it is creating a $483 million joint venture - F2F Cayman Islands Holdings Ltd - with four partners, including Beijing-based CITIC Group Corporation, to supply 250 of the most popular products, including baby formula and diapers.

Located in the China (Shanghai) Pilot Free Trade Zone, the JV's other partners are Thailand's leading retailer Charoen Pokphand Co Ltd, China's largest telecommunications carrier China Mobile Communications Corporation, and the State-owned investment company Shanghai Information Investment Inc.