Dubai-based online shopping site Souq.com is not looking to expand beyond its Gulf Cooperation Council plus Egypt footprint under new parent Amazon, according to its CEO.
When the Amazon deal was first announced some had speculated the estimated $650m acquisition completed in July could see Souq.com rapidly expand into new Middle East and North Africa markets.
However, speaking to Gulf Business, Ronaldo Mouchawar indicated a more conservative approach was instead being adopted.
“We’re kind of staying within the GCC plus Egypt because we feel there is still a lot of untapped potential within these markets and a lot to do to improve overall the shopping online and penetration in our sector,” he said.
Diese Geschichte stammt aus der December 2017-Ausgabe von Gulf Business.
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Diese Geschichte stammt aus der December 2017-Ausgabe von Gulf Business.
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