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Joom, a European ecommerce marketplace, has started its operations in India by launching a platform for local merchants and exporters.
The company said it has onboarded more than 350 merchants from eight Indian cities as part of its entry into the South Asian country. It plans to launch a major promotion in the second quarter of 2023, with a target of boosting sales by up to 10x.
The firm is also developing a logistics solution for Indian merchants through Joom Logistics, which will provide faster delivery and lower costs.
Joom is entering an already cramped market, which includes industry giants such as Amazon and Flipkart. India’s also home to a thriving direct-to-commerce industry, with players like BoAt and Mamaearth in the mix.
See also: The decade of D2C has just begun in India
Headquartered since 2023 in Lisbon, Portugal, Joom was founded in 2016 in Riga, Latvia. The company partners with major Asian and European Union merchants and takes their products to customers worldwide. Joom says it has 25 million monthly active users and 20 million active buyers.
It offers products across categories such as fashion, jewelry, and health and beauty. It also features new categories like cosplay items, beekeeping products, horse saddles, gemstones, and carpets.
Editing by Thu Huong Le and Lorenzo Kyle Subido
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