Major trading house Sumitomo Corp. said Friday it has agreed with two Thai companies to consider setting up a joint TV shopping company in Bangkok.
Sumitomo said it has been holding talks with Central Retail Corp. and I.C.C. International Public Co.
The new company is expected to begin trial broadcasts of a TV shopping program for jewelry, cosmetics, electric appliances and other high-end products early next year with the aim of generating 5 billion baht, or about ¥12.5 billion, worth of sales in five years, according to the trading house.
Sumitomo said its group is expected to own 40 percent of the new firm. Central and I.C.C. would each hold 30 percent.
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