Amazon acquiring Pakistan based fashion portal Clicky.pk
Amazon is trying to extend its stake during a Pakistan-based fashion portal Clicky.pk. If the deal takes place with success, it might boost the sale of ‘Made in India’ product in West Pakistan because the Indian merchant’s registered sellers on the net marketplace might reach additional patrons within the neighboring country, according The Economic Times citing its sources.
The e-commerce giant is already holding thirty three percent stake within the fashion portal through its acquisition of Dubai-based on-line merchant Souq last year. Souq had invested with USD one million in Clicky.pk in late 2016 before being acquired by Amazon for USD 580 million. Now, if a deal is sealed between Amazon and Clicky.pk, Indian merchants will sell additional product in West Pakistan, which may be routed through urban center, wherever Souq relies, the sources said.
It is to be learnt that West Pakistan has listed around one,200 product that square measure restricted to be foreign from Asian country. This has crystal rectifier to informal commerce between the 2 countries routed mostly through urban center and typically through Afghanistan yet, that was pegged at USD four.7 billion in business enterprise 2013, dominated by exports from Asian country, mentioned the ET report quoting date expressed during a 2016 ICRIER paper. The formal trade between the neighboring countries was USD 2.6 billion, that more reduced to USD two.3 billion in business enterprise 2017.
Besides delivery a chance for Indian sellers to widen its market in West Pakistan, the deal also will offer Amazon a stronger foothold during a market that China’s Alibaba is additionally eyeing thirstily. The latter is additionally in talks to shop for stake in Rocket Internet-owned Daraz, one amongst the biggest on-line commerce platforms in West Pakistan, as per a Bloomberg report printed last month.