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ShopClues to merge with Singapore-based Qoo10 Pte, Retail News, ET Retail

ShopClues to merge with Singapore-based Qoo10 Pte New Delhi: E-commerce company ShopClues announced its merger with Singapore-based Qoo10 Pte in a stock deal, the company said in a press statement. Qoo10 is a leading eCommerce platform in South East Asia which services small and medium enterprises via its localized online marketplaces in Singapore, Indonesia, Malaysia, China, Hong Kong, and plans to expand into other Asian countries.

This partnership presents new strategic opportunities for both companies, as it opens up cross border opportunities for consumers and sellers across Asia, the statement said.

ShopClues has built a value-for-money marketplace with eco-system of small merchants. More than 700,000 small and micro-merchants from ShopClues will be able to access to global markets via Qoo10’s presence in South East Asia. Similarly, Qoo10’s merchants and its cross border logistics business will get access to the large Indian market with their high quality, value-for-money products.

The merger has been approved by board of directors and major shareholders of both companies.

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