ShopClues eyes North American, European market with Qoo10’s recent acquisition of Wish

With its parent company Qoo10 having added the world’s most-downloaded e-commerce app to its kitty, ShopClues is set to expand its cross-border trade vertical from Asian markets like Singapore, Korea and Japan to the western world of North America and Europe

New Delhi: June 24, 2024 - ShopClues, the Indian e-commerce platform owned by Singapore-based Qoo10 is all set to enter the next stage of its rebranding exercise as a cross-border e-commerce platform, by setting its sights on the North American and European market.

With the recent acquisition of Wish, a US-based online marketplace which is also known as the world’s most-downloaded e-commerce app, Qoo10 has expanded its global business portfolio which already includes brands like Timon, Wemakeprice, Interpark commerce, Shopclues India and QXpress. Founded in 2010 by Piotr Szulczewski and Danny Zhang, Wish offers a range of products in the living, fashion, beauty and electronics categories to online shoppers in around 200 countries. Around 80% of its revenue comes from Europe and the US.

“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 e-commerce 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,” said Anuraag Gambhir, MD ShopClues.

In September last year, Qoo10 had said it will invest $20 million (approximately Rs. 165 crore) over the next 12 months to fortify its cross-border e-commerce trade 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 that currently services around 2000 cross-border orders a day to countries like Korea, Japan and Singapore also plans to bring international brands to India from the Southeast Asian countries. All its orders are serviced through Qxpress, the logistic arm of Qoo10.