ShopClues Expands Cross-Border Ecommerce Presence
This move by ShopClues comes after Qoo10 acquired Wish, a US-based online marketplace, further expanding its cross-border ecommerce business.
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ShopClues, the Indian ecommerce platform owned by Singapore-based Qoo10, is advancing its rebranding efforts as a cross-border ecommerce platform by targeting the North American and European markets.
Anuraag Gambhir, MD of ShopClues, said, “The acquisition by our parent company Qoo10 of Wish has opened new doors for us to expand and consolidate our cross-border trade business. We can now move on to the next phase of growth and expansion through access to the North American and European markets, and seamlessly establish the cross-border ecommerce channel between India and these regions. We already have a strong presence in Asian countries like Singapore, Korea, and Japan and look forward to taking our ‘Make in India’ products to many more countries across the world.”
This move by ShopClues comes after Qoo10 acquired Wish, a US-based online marketplace known as the world’s most downloaded ecommerce app.
Qoo10’s acquisition of Wish enhances its global business portfolio, which includes brands like Timon, Wemakeprice, Interpark Commerce, ShopClues India, and QXpress. Founded in 2010 by Piotr Szulczewski and Danny Zhang, Wish offers products in living, fashion, beauty, and electronics to shoppers in around 200 countries. About 80% of its revenue comes from Europe and the US.
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Last September, Qoo10 announced it would invest $20 million (approximately Rs 165 crore) over 12 months to strengthen its cross-border ecommerce division. In the first phase, the company enabled the online sale of Indian products via the ShopClues platform to Asian countries and vice versa.
ShopClues, which currently handles around 2000 cross-border orders daily to countries like Korea, Japan, and Singapore, also plans to introduce international brands to India from Southeast Asia. All orders are serviced through QXpress, the logistics arm of Qoo10.
