Qoo10 has acquired AK Mall, an internet shopping mall previously operated by AK Plaza, through its subsidiary, Interpark Commerce.
Interpark Commerce finalized a business transfer agreement with AK Plaza for AK Mall on the March 27.
AK Mall has been known for selling products from department stores within AK Plaza alongside goods from partner affiliates. Through this strategic alliance, AK Plaza aims to focus more on its core offline department store operations while leveraging the strong platform capabilities of Interpark Commerce and Qoo10 to hasten the growth of its online department store segment.
Interpark Commerce is set to aid the domestic sales and international expansion efforts of brands and sellers featured in AK Mall. AK Plaza has expressed alignment with the strategic direction of the Qoo10 Group, committing to actively support the worldwide ventures of its merchants, both in online and offline formats.
Particularly, the strategy involves expanding to the United States and Europe, capitalizing on Wish, a platform recently acquired by Qoo10, in addition to targeting Southeast Asia for reverse direct sales (exports). This expansion is supported by the logistics capabilities of Qoo10’s global subsidiary, QXPRESS, enabling uninterrupted international outreach for local brands.
Qoo10, co-founded in Singapore and Japan in 2010 by Gmarket creator Ku Young-bae and eBay, has expanded its portfolio by acquiring TMON, Interpark, and Wemakeprice, and now AK Mall, thus enhancing its range of department store offerings.