Use your < > keys to browse more stories

Rakuten’s Shuts Down its Direct Retail Business in the UK

From the BBC, via The Next Web:

Online retailer is to shut down its retail business to become a marketplace-only, from March. The Jersey-based firm blamed the move on the ending of Low Value Consignment Relief, which allowed items less than £15 to be sold to the UK VAT-free. All 147 staff in Jersey are to be made redundant as well as 67 in its Cambridge and Bristol offices. will now become more like a shopping centre, no longer selling directly to customers.

Just to be clear, this doesn’t mean that is closing, just that it is ending its direct retail business. The Play Marketplace will continue to operate as usual. was bought by Japanese e-commerce giant Rakuten (JSD:4755) in 2011. The company was aggressive on the international stage in 2012. It’s other notable setback came back in April when the company shut down, its joint venture with Baidu.

Facebook Conversation


Powered by Facebook Comments

Did you enjoy this article? Consider becoming a TiA Insights subscriber.At just $9.99/month, TiA Insights brings you exclusive access to our weekly newsletter, a one-page roundup of each week's must-read Asia tech news from all over the web. With TiA Insights, you'll also get to receive a bi-monthly E-Magazine which makes a perfect weekend read. Click here to find out more.