Coop to acquire online marketplace Siroop
Swiss retail company Coop will acquire Swisscom’s 50% share package in the online marketplace Siroop on 1 May 2018. Coop plans to consolidate Siroop with its own Microspot sales channel and streamline its operations.
In May 2016, Coop and Swisscom jointly launched the marketplace and have subsequently have operated the online marketplace up until now. Siroop and Microspot will now be consolidated under a single brand to capitalise on additional growth potential in the vibrant online arena in Switzerland.
They say the new arrangement aims to capitalise more effectively on their market presence and firmly establishing a key ecommerce player. They also say the deal should also eliminate duplication of efforts and cut costs. Swisscom is selling its shares to Coop to enable the consolidation and will remain involved as a technology and sales partner.
You may not be familiar with Siroop. It’s a Swiss online marketplace that was started by Swisscom and Coop back in 2015 after getting approval from the Swiss competition authority. They say that now they offer more than one million products from over 500 online retailers. They provide and require free returns as standard and you can also enjoy free shipping on all orders over 50CH francs. Are you familiar with Siroop as either a buyer or a seller? Let us know about your experiences and whether it’s a successful outlet for you.