The Global eCommerce Newsletter 01.16.17

 

[Latin America ] E-commerce startup opens online mall of U.S. brands to more Latin Americans
Miami startup iguama opens up its online shopping mall for U.S. brands to consumers across Latin America. With a $5 million new funding, iguama plans to expand throughout Latin America. The company now serves Chile, Colombia, Costa Rica, El Salvador, Guatemala, Panama, and Mexico.

Cross-border e-commerce in Latin America is still an underserved market, and iguama has assembled a unique and experienced team in technology, e-commerce and cross-border logistics to become an important player. Last year, Michael DeSimone, former CEO of cross-border logistics company Borderfree, joined the board of directors.

[Middle East] Noon puts fashion center stage in bid to dominate e-commerce in Mideast
“The launch of Noon will change the regional online shopping experience for fashion forever,” says Mohamed Alabbar, the founder of Noon. Noon will be the Middle East’s largest online shopping platform, and the central plank in its strategy is to use the high-street fashion segment to dominate the region’s fast-growing e-commerce sector. The retailer has announced that it will offer hundreds of exclusive fashion brands and a large private label collection.

With an initial investment of $1 billion, Noon will offer over 20 million products in the UAE and Saudi Arabian markets and will soon cover the entire Middle East region.

[China] China to Boost E-Commerce Cooperation With Russia – Commerce Ministry
China intends to further enhance e-commerce cooperation with Russia. In the first half of 2016, Russian’s e-commerce total volume reached $6.3 billion, a 26% increase during the same period of 2015. In 2016, China’s Alibaba announced plans to expand in Russia and supported an initiative of selling Russian products to China.

[Pakistan] Google to promote e-commerce in Pakistan, says director
Google wants to play a role in IT development and promotion of e-commerce in Pakistan.

[China] Alibaba Buying Intime for $2.6 Billion will Aim to Modernize Offline Retail
After the acquisition, Alibaba will own almost three-quarters of the offline departmental store, Intime, which runs 17 shopping malls and 29 departmental stores across the country. Through this acquisition, Alibaba is trying to modernize offline retail to expand business in both offline and online retail.

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