HONG KONG, Oct. 29, 2020 /PRNewswire/ -- Golden Resources Development International Limited's (HKEX stock code: 677, and together with its subsidiaries, the "Group"), subsidiary, GR Ventures Limited ("GR Ventures"), signed a collaboration agreement with Zeek, the logistics pioneer in Southeast Asia to become the strategic shareholder of Zeek Vietnam Corporation (Zeek VN). The collaboration leverages the competitive edges, resources and expertise of the two companies to, on the one hand, enable Circle K Vietnam's digital transformation to strengthen its online presence; and on the other hand, capture the continuously booming O2O and e-Commerce markets in Vietnam.
(From Left) Vincent Fan, Chief Strategy Officer of Zeek, and Adrian Lam, Managing Director of GR Ventures, signed the collaboration agreement today.
Zeek VN will start online operation in 10 Circle K outlets in Ho Chi Minh City and then expand to 400 outlets across the country.
Adrian Lam, Managing Director of GR Ventures, and Vincent Fan, Chief Strategy Officer of Zeek, signed the collaboration agreement today.
Zeek & GR Ventures Shared Value and Seize Market Potential Together
"The strategic collaboration with Zeek will reinforce our digital transformation strategy for Circle K in Vietnam. The Group is committed to complement our brick and mortar store development with integrated and focused digital initiatives that can capture the evolving demands of the modern consumers. With Zeek, we aim to further build out our O2O strategy by creating an e-Commerce platform where customers can truly enjoy customized services provided by Circle K anytime and anywhere," said by Adrian Lam, Managing Director of GR Ventures.
"The alliance marks a milestone of Zeek's development in Southeast Asia," said Vincent Fan, Chief Strategy Officer of Zeek. "Vietnam is now enjoying a high demographic dividend plus its rising education standard. The young adults and professionals are a great drive for online retail and e-Commerce. We estimate the market size will reach USD23 billion in 5 years, just after Indonesia in Southeast Asia, so Vietnam has always been one of our key markets. With our intelligent logistics experiences and expertise in Thailand and Singapore, we can help Circle K – a huge convenience store network in Vietnam – and its business partners to digitize their business. The collaboration will create an innovative retail environment and capture the emerging opportunities from Vietnam's surging economy. Zeek is eyeing on the entire Vietnam and targets to be the leader in e-Commerce and logistics."
Synergy of Competitive Edges to Build New Retail Business
Circle K is the pioneer and leading international convenience store chain in Vietnam. There are currently 400 stores including in Ho Chi Minh City, Hanoi, Vung Tau, Ha Long Bay and Can Tho. The Group aims to open 1,600 stores by 2025 and build a nationwide coverage of Circle K stores in Vietnam. Riding along the robust economic development of the country, Circle K is well positioned to service the rapidly growing middle class and become a staple brand to all Vietnamese consumers for the future.
Established by Kin Shun Information Technology Limited, Zeek has built a solid root and foundation in Hong Kong and has been extending its business reach to Southeast Asia, including Thailand and Singapore since 2017. The intelligent logistics platform has helped numerous companies and F&B outlets successfully transform their business to the OMO model.
Zeek VN will start online operation in 10 Circle K outlets in Ho Chi Minh City and then expand to 400 outlets across the country. The products will be localized and enhanced to address the local market. It is also recruiting manpower to form its local delivery team. Zeek VN will help the digital transformation of F&B brands and e-Commerce businesses, aiming to realize a comprehensive O2O end customer experience.
About Zeek
Zeek is an innovative intelligent logistics platform launched by Kin Shun Information Technology Limited in Hong Kong. Armed with artificial intelligence, operational and logistics excellence and expertise in leveraging big data, Zeek provides diversified delivery services of home and living goods for individuals and business clients. Zeek also offer total logistics and delivery solutions for corporations tailored to their business needs.
Zeek has been growing with flying speed and its business has reached Singapore, Malaysia, Thailand and Vietnam and is looking forward to set foot in Taiwan, the Philippines and Indonesia.
About GR Ventures
GR Ventures is the venture investment arm of Golden Resources Development International Limited, primarily focused on forming strategic partnerships and making venture investments in innovative companies that want to enter the Vietnam market, and whose growth can accelerate significantly by leveraging the Group's existing assets on the ground. With the highest GDP growth rate in Southeast Asia, a rising middle class with increasing disposable income per capita and a population close to 100 million with over half under the age of 35, we believe Vietnam is an exciting market full of opportunities and upsides.
