News and Announcements
YuuZoo’s New Acquisition of Cinram France Expected to Generate SGD30M+ in Revenues
- Published September 11, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
KEY TAKEAWAYS:
- Singapore-based YuuZoo Corporation Limited has acquired entertainment and logistics company Cinram Logistics France (CLF) through YuuLog Europe
- YuuLog Europe will be based in France and will allow YuuZoo to provide its services to Asian companies that want to do business in Europe
- With the acquisition, YuuZoo has become not only a social commerce marketplace but a complete eCommerce player with a stronger presence in the European market
YuuLog Europe expects to generate a revenue of over SGD30 million this year with its acquisition of entertainment and logistics company Cinram Logistics France (CLF).
The acquisition was announced by social e-Commerce company Yuu-Zoo Corporation Limited (SGX: AFC) which is headquartered in Singapore. The company has successfully combined gaming, e-Commerce, and social networking in one marketplace. With this mobile-optimized technology, Yuuzoo’s more than 118 million registered users are able to access all platforms through a single login.
“YuuZoo has through the acquisition of the assets and business of CLF in one stroke achieved 3 major things. First, the Company has gone from being only a social commerce marketplace operating primarily in the developing world, to become a complete end-to-end eCommerce player in the huge European eCommerce market. Second, the Company has acquired a large new customer base consisting of some of the world’s strongest brands in entertainment and eCommerce. Third, the Company has added a very strong European team of some 250 people that will be central to YuuZoo’s European expansion,” YuuZoo Corporation Limited Executive Chairman Thomas Zilliacus said.
YuuLog Europe is a joint venture between YuZoo Corporation Limited and the previous management of Cinram France. YuuZoo has business operations in Europe, Africa, and Asia. It has chosen France to be the base of its expansion in Europe. Through this new base, YuuZoo will now be capable of providing its services to Asian eCommerce companies that are eyeing the European market.
On the other hand, CLF is backed by 40 years of experience providing a variety of customer management transactions in the distribution and entertainment sector logistics. Among its clients are Universal Studios, 20th Century Fox, eCommerce giant Amazon and Warner Bros. The company has expertise in various eCommerce services including co-packing, outbound/inbound, cross-dock and reverse logistics.
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