Domestic e-tailer ShopClues to merge with Singapore-based Qoo10

Indian e-commerce firm ShopClues on Thursday said it has inked an all stock-deal with Qoo10 to merge operations with the Singapore-based firm.

The collaboration presents “new strategic opportunities for both companies as it opens up cross border opportunities for consumers and sellers across Asia”, ShopClues said in a statement.

While the terms of the deal were not disclosed, the development would come as a breather for the Indian e-commerce platform that has been struggling to control costs in the hyper-competitive online shopping segment in India.

Qoo10 is an e-commerce platform in South East Asia that serves small and medium enterprises (SMEs) via its localised online marketplaces in Singapore, Indonesia, Malaysia, China and Hong Kong.