Qoo10 Accelerates K-Brand Expansion into North America and Europe with 'Wishplus'

Launch of Global Hub Platform 'Wishplus'
Platform Focused on K-Products

Qoo10 announced on the 24th that it has launched a new hub platform called 'Wish+,' aimed at building a global e-commerce ecosystem, expanding the online overseas entry channels for domestic brands and manufacturers worldwide.

Qoo10 changed the name of its existing global customer website, Qoo10.com, to Wish+, establishing a web integration foundation with Wish, and subsequently released a standalone mobile app exclusively for Wish+. Previously operating an e-commerce ecosystem centered in Asia, Qoo10 has completed a global commerce platform with worldwide influence through its merger with Wish, which is based in North America and Europe.

Wish, which started its business in 2010, is a platform that has recorded over 500 million downloads on Android apps and has customers in more than 200 countries. In 2018, Wish was the most downloaded e-commerce app worldwide, and in 2019, it ranked as the third-largest platform in the United States based on sales volume. At one point, it also recorded a market value of $18.3 billion (approximately 25 trillion KRW).

Recently expanding its business base in Korea, Qoo10 plans to support the active overseas expansion of domestic companies by making K-brand products the flagship items of Wish+. Since there is currently no global e-commerce operator focusing primarily on Korean products, Wish+ is expected to become a differentiated platform for exporting K-beauty, K-food, K-fashion, and more.

Qoo10 expects Wish+ to become a key purchasing destination for K-products in North America and Europe. The core users of the existing Wish platform are composed of the 20-40 age group and middle class in the United States, who have a high affinity for K-products. Additionally, Korean international students and expatriates can easily purchase most Korean products they need through Wish+.

A Qoo10 representative said, “Wish+ is a global digital commerce platform based on Qoo10’s Asian product network and Wish’s global customer base, facilitating multidirectional exchange of products from various regions worldwide. In particular, it will be the easiest purchasing channel for K-products in the U.S. and Europe and an optimized sales channel for the overseas expansion of K-brands.”