It is reported that in December 2024, global consumer internet leader Prosus N.V. officially signed an Authorization Agreement with Hong Kong-based Hive Commercial Technology Co., Ltd., authorizing the company to build and operate the “Hive Select” platform across Mainland China, Hong Kong, and the Asia-Pacific region. This milestone signifies the official launch of a strategic partnership between the two parties and marks a major step forward for Hive Select’s regional expansion in the new retail sector.
According to the agreement, Hive Commercial Technology Co., Ltd., as the authorized party, will be responsible for business development, channel management, and brand operations of the Hive Select platform within the designated regions. Under the guidance of Prosus, Hive is also granted access to use relevant commercial resources and technical support. The authorization is valid for a period of five years, with the option to renew upon expiry through mutual negotiation.
As one of Prosus’ core initiatives in retail digital transformation, Hive Select integrates an online shopping platform with more than 5,000 offline retail touchpoints, forming a highly efficient OMO new retail ecosystem. The authorization is expected to further unlock Hive’s potential in supply chain integration, smart retail system deployment, and regional market development.
Headquartered in the Netherlands, Prosus N.V. is a global technology investment company majority-owned by South African media giant Naspers. This collaboration represents Prosus’ continued commitment to expanding its strategic presence in the Asian market and advancing the globalization of digital retail innovation.
Hive Commercial Technology Co., Ltd. stated that it will uphold principles of compliance and transparency, provide regular updates to Prosus on business progress, and strictly enforce intellectual property protection and commercial confidentiality clauses to ensure the platform’s long-term stability and healthy growth.
This authorization not only provides Hive Select with strong international capital and strategic backing, but also signals a new phase of intelligent retail upgrades and collaborative development across the Asia-Pacific new retail landscape.
