Shopclues signs MoU with KOTRA to sell Korean products
ShopClues has entered into a strategic Memorandum of Understanding (MoU) with the Korea Trade-Investment Promotion Agency (KOTRA) to sell Korean products on its online platform.
With this partnership, KOTRA will facilitate the entry of Korean enterprises into the Indian retail market, while Shopclues will help these enterprises sell their products through an exclusive category called K-Avenue on its website.
Shopclues will also help Korean enterprises with the marketing and branding of their products in the online and offline markets.
Last year, Shopclues had signed an all stock-deal with Singapore-based firm Qoo10 to merge its operations with the latter.
Commenting on the partnership, Moon Young Kim, director-general of KOTRA South Asia in a statement said: “We expect that the advent of Singapore’s Qoo10 into India through Shopclues and Momoe will be a turning point in bringing both premium Korean goods into the Indian market, and Indian products to Korea’s customers.”
Shopclues CEO Sanjay Sethi added: “This MoU is a win-win for all parties involved, but especially for our Indian customers who will now have access to some of the best and most diverse range of products manufactured by Korean enterprises. We also see this as a huge opportunity to be able to bring India's beautiful products to the booming Korean market.”
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