Readen Holding Corporation (OTC Pink: RHCO) is a listed venture capital corporation with a history of over 30 years. It has a long history of engaging in the retail trade and more recently its focus was on finding value in distressed assets. This has always been supported by its strong turnaround abilities and disposal of non-performing assets. RHCO has subsidiaries and liaison offices in Europe and Asia.
RHCO has made a strategic decision to pursue an investment strategy that takes an integrated asset approach with a focus on payment’s, ecommerce and their supporting Infrastructure technologies. We will be seeking a structured balance between short-term revenue and long-term outperformance multiples.
Latest News from RHCO
21 Jun 2022
Readen Holding Corporation (OTC PINK: RHCO), a Venture Capital Corporation which is active in the Fintech, Online Payment and E-commerce industries, today announced that they have transformed Neckermann Online Store into the all new Neckermann Direct B2C E-commerce Platform (www.neckermanndirect.eu). The Company has revived a 70 years old, one of the most well-known retails brand in Europe into a front runner of global E-commerce, providing a platform for Asian merchants and products to enter European market.
Founded in Germany in the 1950’s by Dr. Josef Neckermann, Neckermann quickly grew to be the largest mail order company in Europe and once distributed over 3 million copies of product catalogue to households. Over the years, its offering of over 700,000 products along with its credit facilities, made Neckermann a household brand in most European countries. In 2016 RHCO took over a majority in Neckermann in the Benelux and implemented a new strategy to rebuild it to be an online retailer.
In early 2022, RHCO decided to transform Neckermann Online Store into Neckermann Direct, an all-new B2C E-commerce platform which welcome cross-border merchants from Asia to directly sell their products to customers in Europe. The Company realized the market opportunity, as there were tremendous needs from Asian suppliers, factories and merchants to sell directly to Europe, yet the current block of Chinese merchant accounts by E-commerce giant Amazon has forced many Chinese companies to seek other direct selling channels. Neckermann Direct aims to activity bridging the gap, encouraging genuine and high-quality Chinese / Asian products to be offered directly on its platform without any wholesaler.
According to the Shenzhen Cross-border E-commerce Association of China, Amazon has blocked at least 50,000 Chinese merchant accounts since May 2021, and Chinese cross-border E-commerce companies had suffered losses of more than 100 billion yuan (USD$14.93 billion) (up to Aug 2021). It was estimated that China’s market scale of cross-border E-commerce would hit 14.6 trillion yuan (USD$2.18 trillion) in 2021 and exports accounted for 77.5%.
The transformation was part of RHCO’s E-commerce initiative that also included Two Percent Online Store (www.twopercent.hk). RHCO has transformed Two Percent into a comprehensive retail platform for all luxury brands, serving the growing demand for European Fashion, Cosmetics and Body Care Products throughout Asia.
Richard Klitsie, CEO of RHCO stated, “Our all new Neckermann Direct Platform is definitely riding on the global E-commerce wavefront. We see that Chinese and Asian merchants are longing to sell to Europe, so the market potential is beyond imagination. Neckermann Direct can provide a trustful platform as the whole Europe knows Neckermann. And our synergy of Neckermann Direct, Two Percent along with OkePay and OkeApp is building RHCO into a strong and solid E-commerce / Online Payment enterprise.”
1 Jun 2022
READEN HOLDING CORPORATION (OTC PINK: RHCO), a Venture Capital Corporation which is active in the Fintech, Online Payment, and E-commerce industries, today announced the removal of the “Yield Sign” from its stock symbol page provided by OTC Markets.
RHCO has filed its financial statements for the quarter ending March 2022 with OTC Markets Disclosure & News Service in April. Yet during that process, there was a minor clerical error which caused the “Yield Sign”. Today, OTC Markets has removed the “Yield Sign” and moved RHCO back in the “Pink Current” tier.
RHCO is in the process of full audit and aims to be uplisted to OTCQB in the near future.
Richard Klitsie, CEO of RHCO stated, “We are very pleased that the ‘yield sign’ has now been removed by OTC Markets and RHCO is now back to the ‘Pink Current’ status. We have commitment to maintain higher standards of corporate transparency; thus, we had clear communication about this ‘yield sign’ situation through various channels including social media. Our team has been working very hard on the uplisting process, and we are confident that RHCO will be uplisted to OTCQB very soon. We expect the momentum of RHCO to be increasing continuously as we approach this milestone.”
17 May 2022
READEN HOLDING CORPORATION (OTC PINK: RHCO), a Venture Capital Corporation which is active in the Fintech, Online Payment and E-commerce industries, today announced that the Company will move its corporate headquarters to Singapore. The relocation is a strategic move that represents the Company’s commitment to expanding its global footprint, further investing in the Asia markets, and enhancing its technology standards.
Singapore has emerged as the Next Silicon Valley in Asia. In 2022, it is ranked the top data center market in Asia Pacific, and ties with Silicon Valley for second place globally.* Singapore is widely recognized as a center of excellence in many I.T. sectors, which include cloud infrastructure, artificial intelligence, immersive media and augmented reality, blockchain architectures and cyber-security, etc. The Smart Nation initiative backed by the Government of Singapore sets the stage for digitization across policy processes and urban environments, and the nation is poised for further explosive growth as cloud adoption and digital requirements continue to increase. RHCO will tap into this dynamic environment as it continues to develop its Fintech, Online Payment and E-commerce businesses.
In 1997, RHCO established its head office in Hong Kong. The headquarters was relocated to Europe in 2004 and moved back to Hong Kong in 2020. Yet after the Pandemic broke out, the Chinese territory’s zero Covid strategy has set up strict international travel restrictions which made it difficult for the headquarters to operate. According to a draft report by the European Chamber of Commerce in Hong Kong, the zero-tolerance approach to Covid-19 could keep Hong Kong cut off from most of the world until 2024. This circumstance has forced RHCO to review its operations and weight in other options. However, RHCO’s Hong Kong office will remain in operation as it continues to be the basecamp of OkeApp, the Company’s discount referral app.
In an earlier announcement, RHCO also announced an expansion of opening another office location in the Netherlands. Currently, RHCO has several offices in Amsterdam (Netherlands), Auckland (New Zealand) and Hong Kong (China).
Richard Klitsie, CEO of RHCO stated, “As RHCO continues to expand, we eye Singapore as our new global headquarters to tap into the island-state's excellent infrastructure, support of digitally focused projects and critical agencies, along with its unrivaled global connectivity. Singapore's vibrant ecosystem, stability, and highly skilled tech talent pool align with our goals and values as we navigate our rapid growth trajectory across Asia and global markets."
* Cushman & Wakefield, 2022 Global Data Center Market Comparison.