1. News
March 29, 2017

Amazon to acquire Middle East retailer SOUQ.com

Amazon has signed an agreement to acquire Middle Eastern retailer SOUQ.com.

Amazon has signed an agreement to acquire Middle Eastern retailer SOUQ.com.

By joining the Amazon portfolio, SOUQ.com will be able to continue and bring more products to customers worldwide.

Amazon international consumer senior vice-president Russ Grandinetti said: "Amazon and SOUQ.com share the same DNA, we’re both driven by customers, invention, and long-term thinking.

“We're looking forward to both learning from and supporting them with Amazon technology and global resources."

The acquisition is subject to closing conditions and slated for completion this year.

SOUQ.com CEO and co-founder Ronaldo Mouchawar said: "We are guided by many of the same principles as Amazon, and this acquisition is a critical next step in growing our e-commerce presence on behalf of customers across the region.

"By becoming part of the Amazon family, we'll be able to vastly expand our delivery capabilities and customer selection much faster."

"By becoming part of the Amazon family, we'll be able to vastly expand our delivery capabilities and customer selection much faster, as well as continue Amazon's great track record of empowering sellers."

SOUQ.com features more than 8.4 million products across 31 categories such as consumer electronics, fashion, health and beauty, as well as household goods.

Amazon has also announced plans to open its tenth Texas fulfillment centre in Katy, where it will create 1,000 new jobs.

Developed by Duke Realty, the one million-square-foot Katy fulfillment centre will be used to pick, pack and ship larger-sized customer items such as music equipment, sports gear and electronics.


Image: SOUQ.com features products across categories such as consumer electronics, fashion, health and beauty, household goods. Photo: courtesy of Roger Kirby via Freeimages.com.