Global Retail Undervalued based on future growth

Bike24 Holding

Market Cap: €107.8m

Operates an online cycling platform in Germany, Austria, Switzerland, rest of Europe, and internationally.

Elektroimportøren

Market Cap: NOK 1.1b

Engages in the sale of electrical installation products to private and professional customers in Norway and Sweden.

iFamilySC

Market Cap: ₩158.4b

An interactive branding company, engages in e-commerce business in South Korea.

SSI Group

Market Cap: ₱6.7b

Operates as a specialty retailer primarily in the Philippines.

Peter Warren Automotive Holdings

Market Cap: AU$146.2m

Engages in the sale of new and used motor vehicles in Australia.

Sitara Petroleum Service

Market Cap: PK₨27.8b

Operates as a fuel logistics and retail fuel stations management company in Pakistan.

Michael Hill International

Market Cap: AU$132.8m

Operates in the retail sale of jewellery and related services sector in Australia, New Zealand, and Canada.

Topps Tiles

Market Cap: UK£69.5m

Engages in the retail and wholesale distribution of ceramic and porcelain tiles, natural stone, and related products for residential and commercial markets in the United Kingdom.

Sinar Eka Selaras

Market Cap: Rp1.6t

Distributes and retails lifestyle products and solutions of various brands in Indonesia.

RenetJapanGroupInc

Market Cap: JP¥12.9b

Engages in internet reuse, recycling, and social care businesses in Japan and internationally.

RACCOON HOLDINGS

Market Cap: JP¥12.7b

RACCOON HOLDINGS, Inc. creates and provides infrastructure BtoB transactions in Japan.

Pierce Group

Market Cap: SEK 711.4m

An e-commerce company, engages in the sale of motorcycle and snowmobile gears, parts, and accessories across Europe.

Articore Group

Market Cap: AU$86.6m

Owns and operates online platforms that facilitates design and sale of products printed with the artwork in Australia, the United States, the United Kingdom, and internationally.

Yoong Onn Corporation Berhad

Market Cap: RM 234.8m

An investment holding company, designs, manufactures, distributes, trades, and retails home linen, bedding accessories, and homewares in Malaysia.

LightInTheBox Holding

Market Cap: US$58.0m

An online retail company, provides various lifestyle products directly to consumers in Europe, North America, and internationally.

Oasis Home Holding Berhad

Market Cap: RM 212.5m

An investment holding company, markets and sells consumer lifestyle products in Malaysia and Singapore.

Meds Apotek

Market Cap: SEK 479.2m

Operates as an online pharmacy that sells prescription and non-prescription medicines in Sweden.

Koukandekirukun

Market Cap: JP¥6.7b

Engages in the sale of housing equipment online.

BIKE O

Market Cap: JP¥5.7b

BIKE O & COMPANY Ltd. retails used motorcycles in Japan.

Acer Gaming

Market Cap: NT$1.1b

Engages in the sale of game consoles and peripheral products in Taiwan.

Dusk Group

Market Cap: AU$49.8m

Dusk Group Limited retails scented and unscented candles, home decor, home fragrances, and gift solutions in Australia.

Pasquarelli Auto

Market Cap: €25.8m

Operates as a dealer of new, used, company, and 0 km cars in Italy.

Platform Group SE KGaA

Market Cap: €19.9m

A software company, operates online platforms for B2B and B2C customers.

Yakkyo

Market Cap: €13.6m

Operates an e-commerce platform in Italy.