Most of the folks in Southeast Asia know about Gmarket. But this familiar name will soon be gone in Singapore, Japan, Malaysia, and Indonesia. The e-commerce giant will be rebranded to Qoo10, according to a note we received from the company. But only one Gmarket will remain, in Korea, which is under eBay’s control.
The main shareholder behind Qoo10 is actually Giosis Gmarket International. Right now, users can still see the familiar Gmarket logo, but the Qoo10 logo will be officially unveiled on May 2. If you’d like a sneak peek at the new logo, you can see it at Qoo10.com. The rebranding came as a shock to me because Gmarket is among the most visited e-commerce sites in Singapore. I reached out to a Gmarket rep today who told me:
We know the Gmarket brand has quite a strong presence in the region (especially Singapore, as we’ve been building this business with our hearts and sweat). But this decision has come from all the stakeholders’ ambition to position our brand as a leading marketplace platform provider for Asia and go bigger, rather than one of many online shopping sites riding on the Korean wave.
Gmarket.com.sg will still be accessible as the team migrates to qoo10.com. But it will take a lot of hard work bringing the site back up to its usual traffic as we experienced first hand ourselves here at Tech in Asia with our own past rebranding. Good luck!