e-commerce market

Russia’s E-Commerce Turnover Reaches RUB 7.2 Trillion in H1 2026

Russia’s e-commerce market continued its strong expansion in the first half of 2026, with online retail turnover reaching RUB 7.2 trillion (approximately $90.8 billion), according to data from the Association of Internet Trade Companies (AKIT). The figure represents an 18.7% year-on-year increase.

Regional Markets Drive Russia’s E-Commerce Growth

The latest figures highlight a significant shift in Russia’s e-commerce landscape, with regional markets increasingly driving growth beyond Moscow and St. Petersburg.

Domestic online stores and marketplaces generated approximately RUB 6.9 trillion, while cross-border e-commerce accounted for RUB 245.8 billion, representing 3.4% of total online turnover.

E-commerce also increased its contribution to Russia’s overall retail sector. Online sales represented 22.2% of total retail turnover between January and June 2026, up from 20.9% during the same period a year earlier.

According to AKIT, 45 Russian regions have already exceeded the national average for online retail penetration. The Arkhangelsk region recorded the highest share at 52.9%, followed by the Khanty-Mansi Autonomous Okrug at 38.8%.

Regions outside Moscow and St. Petersburg generated nearly 80% of Russia’s total e-commerce turnover during the first half of the year. Moscow remained the largest individual regional market, accounting for 15.4% of turnover, but its share declined from 16.5%.

Online Retail Expands Beyond Major Cities

The rapid development of e-commerce in Russia’s regions is being supported by wider marketplace access, expanding pickup-point networks and improved delivery infrastructure.

AKIT president Artem Sokolov said online shopping is particularly attractive in areas where traditional retail offers a more limited product range. The trend has been especially visible across Siberia and the Far East, where consumers increasingly use online platforms to access products that may not be readily available locally.

Several regions recorded e-commerce turnover growth of more than 30%, including Tyva, the Nenets and Jewish autonomous okrugs, Chechnya, Dagestan, Trans-Baikal, Kalmykia, Kaliningrad and Amur.

Marketplace operators are also seeing stronger growth outside the country’s largest cities. Ozon reported that regional online orders are growing faster than those in Moscow, where online penetration is already significantly higher.

Home, Fashion and Food Lead Online Spending

Home goods and furniture represented the largest category of online sales during the first half of 2026, accounting for 15.8% of e-commerce turnover.

Clothing and footwear followed with 15.1%, while food accounted for 14.8%. Electronics and appliances represented 13%, and beauty and health products contributed 6.8%.

Digital goods recorded the fastest growth, expanding by almost 40% year on year. Online turnover for pharmaceuticals, pet supplies and crafting materials also increased by around 30%.

Russia’s E-Commerce Market Enters a New Phase

The H1 2026 results underline the increasing importance of e-commerce to Russia’s retail economy. With online sales now accounting for more than one-fifth of total retail turnover, growth is increasingly coming from regional consumers rather than only the country’s major metropolitan markets.

The expansion of marketplaces, logistics networks and pickup infrastructure is helping narrow the gap between urban and regional consumers, creating new opportunities for retailers and digital commerce platforms across the country.

However, disruptions affecting major marketplace infrastructure could pose challenges for the sector’s continued growth. The broader resilience of Russia’s e-commerce ecosystem will therefore depend increasingly on diversified logistics networks and the ability of platforms to maintain reliable fulfillment capacity.

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JD.com Opens Seoul Buying Office to Expand Korean Product Sourcing

China’s e-commerce giant JD.com has opened a direct sourcing office in Seoul as it seeks to expand its procurement of Korean consumer goods and respond to growing demand for Korean products among Chinese shoppers.

The new purchasing unit marks a deeper integration between Korean brands and China’s rapidly expanding digital retail ecosystem, while offering Korean exporters a more direct route to reach Chinese consumers.

Korean Consumer Goods Exports Rebound

The move comes as Korean consumer-goods exports show signs of recovery following several years of post-pandemic weakness.

Shipments across five major categories – cosmetics, food, fashion, household goods and pharmaceuticals – increased 8.7% year-on-year to $3.44 billion in the first half of 2026, compared with $3.16 billion during the same period a year earlier, according to Korea Customs Service data cited by The Korea Times.

Trade officials see China’s digital commerce platforms as an increasingly important channel for Korean brands seeking to rebuild their presence in the market.

JD.com, alongside platforms such as Douyin and Alibaba, is becoming part of a broader shift toward direct digital distribution rather than relying exclusively on traditional export intermediaries.

JD.com Signs $1.5 Million in Supply Deals

To mark the opening of its new Seoul purchasing unit, Korea’s Ministry of Trade, Industry and Resources and the Korea Trade-Investment Promotion Agency (KOTRA) hosted a business matchmaking event with JD.com executives.

The delegation included 12 senior JD.com executives, led by Vincent Yang, the company’s vice chairman and head of cross-border business.

Around 200 Korean consumer brands participated in the event, where JD.com conducted 54 one-on-one procurement meetings.

Following the meetings, JD.com signed supply contracts with nine Korean companies worth a combined $1.5 million over the next year.

Among the companies was fashion brand Reclow, which will sell its apparel through a self-operated flagship store on JD.com. Jewelry brand Lloyd was also among the businesses entering supply agreements with the Chinese platform.

For Korean SMEs, direct platform integration could help reduce some of the logistical, payment and market-entry challenges associated with exporting to China.

China’s E-Commerce Market Creates New Opportunities

China’s online retail sector has expanded significantly in recent years.

Online sales accounted for around 30% of China’s total retail market in 2020, but that share has now risen to more than 44%, highlighting the growing importance of digital channels in reaching Chinese consumers.

Changing consumer behavior is also influencing the types of products Korean companies are bringing to the Chinese market. Value-conscious spending, demographic changes and the continued shift toward online shopping are encouraging brands to adapt their products and sales strategies.

For Korean exporters, selling directly through major Chinese platforms can provide access to established digital infrastructure and a large consumer base without depending entirely on conventional distribution networks.

JD.com Plans Dedicated Korean Goods Section

JD.com plans to expand a dedicated section for Korean products on its platform and work with KOTRA to identify additional Korean companies with export potential.

The platform already operates a logistics entity in Korea that provides customs and fulfillment services, giving Korean sellers access to infrastructure that can support cross-border transactions.

Kim Min-hwa, head of JD.com’s Korea office, said Korean consumer goods continue to perform steadily on the platform, citing their quality and appeal among Chinese consumers.

The company’s expanded sourcing operation could therefore provide Korean brands with a more structured route into JD.com’s marketplace.

Direct Platform Integration Becomes More Important

KOTRA is increasingly emphasizing direct purchasing relationships between Korean exporters and major Chinese e-commerce platforms.

The strategy reflects a broader transformation in cross-border commerce, where marketplaces are moving beyond simply providing a digital storefront and are becoming more closely involved in sourcing, logistics, fulfillment and international distribution.

For Korean SMEs, these relationships could create more predictable order flows while lowering some of the operational barriers traditionally associated with entering overseas markets.

JD.com’s Seoul sourcing office represents another step toward this model, connecting Korean manufacturers directly with one of the world’s largest e-commerce ecosystems.

As Chinese consumers continue to shift their spending online, closer integration between Korean suppliers and Chinese digital platforms could become an increasingly important driver of cross-border trade.

Source: The Korea Times

Alo Launches Exclusive E-Commerce Platform in China via Tmall

US athleisure brand Alo is expanding its presence in China with the launch of its first official e-commerce store in mainland China on Tmall, Alibaba’s leading B2C marketplace.

The online flagship store will feature more than 300 products and will serve as Alo’s exclusive e-commerce channel in mainland China. Through the partnership, the brand will gain access to Tmall’s customer base, including more than 62 million 88VIP members.

Online-First Strategy

The launch marks the latest step in Alo’s entry into the Chinese market. The brand established its presence in mainland China in June through WeChat and Xiaohongshu, also known as RedNote.

Alo has since expanded its local digital ecosystem by introducing an event-booking platform through a WeChat Mini Program and appointing Chinese K-pop star Ningning of Aespa as a brand ambassador.

The company’s decision to prioritise e-commerce allows it to build on existing social media momentum while testing consumer demand and product preferences before making larger investments in physical retail.

According to Maggie Xie, associate director at S&P Global Ratings, an online-first approach can help Alo enter the market with lower upfront capital expenditure compared with opening physical stores.

Competing in China’s Athleisure Market

Founded in 2007, Alo has developed a strong following among younger consumers through its California-inspired aesthetic and celebrity partnerships, including Kendall Jenner and Bella Hadid.

The brand is entering an increasingly competitive Chinese athleisure market, where international and domestic sportswear companies are competing for consumers seeking premium athletic and lifestyle products.

By combining social media, influencer marketing and a Tmall flagship store, Alo is building a digital-first route into the Chinese market while gaining an opportunity to understand local consumer behaviour.

The strategy highlights the growing importance of marketplaces and social commerce in helping global brands test new markets before committing to extensive physical retail networks.

For Alo, Tmall provides not only a sales channel but also an entry point into one of the world’s largest and most competitive e-commerce markets.

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Etsy Cuts 12% of Workforce Days After $1.4 Billion Depop Sale

Etsy is restructuring its business and cutting around 200 jobs just days after receiving $1.4 billion from the sale of its Depop marketplace to eBay, creating a striking contrast between the company’s fresh cash injection and its decision to reduce its workforce.

The company announced the layoffs on August 5, with the cuts affecting approximately 12% of its workforce. Most of the impacted positions are in product and engineering, according to reports. Etsy said the restructuring is designed to simplify its organizational structure, improve coordination and accelerate decision-making.

Layoffs Follow Strong Second-Quarter Performance

The workforce reduction came alongside Etsy’s second-quarter results, which showed continued growth in its core marketplace.

Etsy Marketplace revenue increased 9.3% year over year, while gross merchandise sales (GMS) rose 7.5% to approximately $2.6 billion. The company also reported comparable net income of $114 million, representing an increase of more than 50% from the previous year.

The results suggest that the layoffs are not simply a response to deteriorating marketplace performance. Instead, Etsy is positioning the restructuring as part of a broader effort to make the company more focused and efficient.

CEO Kruti Patel Goyal said cost savings would be a consequence of the restructuring rather than its primary objective. She also said the layoffs were not driven by artificial intelligence, although Etsy continues to use AI in product development and other areas of the business.

$1.4 Billion Depop Sale Adds to the Restructuring Story

The timing of the layoffs has drawn particular attention because Etsy completed the $1.4 billion sale of Depop to eBay on July 30, only six days before announcing the workforce reductions.

The transaction is part of Etsy’s broader strategy to streamline its portfolio and concentrate resources on its core marketplace. The company previously sold Reverb, another marketplace business, in 2025.

Rather than using the proceeds primarily to expand its workforce, Etsy is simultaneously restructuring its organization and returning capital to shareholders. The company has authorized an additional $2 billion share repurchase program.

Etsy Refocuses on Its Core Marketplace

The latest moves highlight a broader shift in Etsy’s strategy: moving away from operating multiple marketplaces and toward strengthening its flagship Etsy platform.

The company expects the restructuring to be substantially completed by the end of the third quarter of 2026. Employees affected by the cuts are expected to receive severance packages, including at least 16 weeks of pay and extended healthcare coverage, according to the company’s disclosures.

For Etsy, the combination of marketplace growth, portfolio divestments, workforce restructuring and a major share-buyback authorization signals a more focused phase of its business strategy.

The company is now betting that a leaner organization and greater concentration on its core marketplace can translate recent financial momentum into sustainable long-term growth.

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Notino Revenue Climbs to €1.76 Billion as European Beauty Demand Remains Resilient

Notino, Europe’s largest online beauty and health retailer, reported revenue of €1.76 billion for its latest financial year, underscoring the resilience of the region’s beauty e-commerce market despite a more challenging retail environment.

The Czech-based company generated 11.5% year-on-year revenue growth during the financial year ending in April 2026, driven by continued expansion across European markets, increasing customer engagement, and sustained demand for premium beauty and personal care products. The results reinforce Notino’s position as one of Europe’s most prominent cross-border online retailers at a time when many e-commerce businesses are experiencing slower post-pandemic growth.

While consumer spending across Europe has remained under pressure from elevated living costs and cautious household budgets, the beauty category has continued to outperform broader discretionary retail. Industry analysts have increasingly pointed to cosmetics, skincare and fragrances as segments that benefit from recurring purchases and strong customer loyalty, providing retailers such as Notino with greater resilience during periods of economic uncertainty.

Strong Recovery After Holiday Season

The company said trading conditions varied throughout the year. Sales growth moderated during the traditionally important Black Friday and Christmas shopping season, reflecting a more competitive promotional landscape and cautious consumer spending. However, momentum accelerated sharply during the opening months of 2026, with revenue growth reaching 27%, signalling renewed demand and effective customer acquisition strategies.

Cross-Border Expansion Continues

Founded in Brno, Czech Republic, Notino has evolved from a regional online perfume retailer into a pan-European marketplace serving customers in 27 countries. Its business model combines centralised logistics with localised websites, language support, regional payment options and tailored marketing campaigns, allowing the company to scale efficiently while adapting to local consumer preferences.

The retailer now serves more than 40 million customers, supported by an omnichannel strategy that extends beyond e-commerce. Alongside its online operations, Notino continues to invest in physical stores, beauty consultation services and mobile commerce, seeking to strengthen customer engagement across multiple touch points. This integrated approach has become increasingly important as retailers compete on customer experience rather than price alone.

Cross-border commerce remains a key pillar of Notino’s expansion strategy. By leveraging a unified logistics network while maintaining localised shopping experiences, the company has been able to enter new markets without the substantial infrastructure investments typically associated with traditional retail expansion. The model also enables greater operational efficiency and inventory management across Europe.

Beauty E-commerce Maintains Momentum

The latest performance reflects broader trends within the European beauty sector, where online sales continue to capture a growing share of consumer spending. Demand for skincare, wellness products and premium fragrances has remained robust, supported by social commerce, influencer marketing and increased digital engagement. These factors have helped offset softer demand in other retail categories and reinforced beauty’s reputation as one of e-commerce’s most resilient verticals.

Outlook

Looking ahead, Notino appears well positioned to capitalise on the continued digitalisation of beauty retail across Europe. With a growing customer base, expanding omnichannel capabilities and strong momentum entering 2026, the company is expected to continue investing in technology, logistics and customer experience as competition intensifies among online beauty retailers.

For the wider European e-commerce industry, Notino’s latest results provide another indication that businesses with strong cross-border infrastructure, local market expertise and diversified customer engagement strategies remain well placed to deliver sustainable growth despite an increasingly competitive retail landscape.

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U.S. Online Retail Sales Surge 14.2% in June as E-commerce Outpaces Traditional Retail

U.S. Ecommerce Delivers Strongest June Growth in Years

U.S. online retail sales accelerated sharply in June 2026, highlighting consumers’ continued preference for digital shopping despite broader economic uncertainty. According to new data analyzed by Digital Commerce 360, e-commerce sales reached $142.67 billion, marking a 14.2% year-over-year increase-the strongest June growth rate in more than four years.

The performance significantly outpaced overall retail sales growth, reinforcing e-commerce’s role as one of the primary drivers of consumer spending in the United States.

Prime Day Promotions Fuel Online Spending

A major catalyst behind June’s exceptional performance was the timing of Amazon Prime Day and competing promotional campaigns from major retailers including Walmart and Target.

The four-day promotional period accounted for 18.5% of total June online sales, demonstrating how large-scale shopping events continue to reshape monthly e-commerce performance. Prime Day’s influence has expanded dramatically since 2020, when consumers spent approximately $10.4 billion during the event.

Retailers increasingly coordinate major discount campaigns around these high-traffic events to capture consumer demand while improving inventory turnover.

Total Retail Sales Continue to Grow

Overall U.S. retail sales also maintained positive momentum.

Total retail sales reached $768.55 billion in June 2026, compared with $720.16 billion during the same month last year. While physical retail remains resilient, online commerce continues to capture a growing share of consumer spending.

Industry analysts note that ecommerce growth is benefiting from improved digital shopping experiences, faster delivery options, competitive pricing, and consumers’ increasing comfort with online purchasing.

Ecommerce More Than Doubles Pre-Pandemic Levels

June’s figures also illustrate how dramatically online retail has expanded since the pandemic era.

Online retail sales have climbed from $60.78 billion in June 2019 to $142.67 billion in June 2026-more than doubling in just seven years. The latest results also exceed June 2020 levels by nearly $60 billion, underscoring the lasting structural shift toward digital commerce.

Rather than returning to pre-pandemic shopping habits, consumers have continued integrating ecommerce into everyday purchasing across multiple product categories.

Outlook: Digital Commerce Maintains Strong Momentum

Although broader retail growth has moderated in recent months, ecommerce continues to outperform traditional retail by a considerable margin.

The combination of promotional events, improved logistics, AI-powered personalization, and omnichannel retail strategies suggests digital commerce will remain a key engine of U.S. retail growth throughout the remainder of 2026. As major retailers continue investing in online capabilities, competition for digital shoppers is expected to intensify during the second half of the year.

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Shein IPO Valuation Slips as Regulatory Pressure Weighs on Growth Prospects

Shein’s long-awaited initial public offering is facing fresh headwinds as tightening regulations on cross-border e-commerce threaten to slow growth and reduce investor enthusiasm. The fast-fashion giant, which is preparing for a Hong Kong listing later this year, is now expected to command a significantly lower valuation than previously anticipated as new import rules in Europe begin to impact sales and profitability.

The company is reportedly seeking a valuation between $40 billion and $50 billion, a sharp decline from the $100 billion valuation achieved during its 2022 fundraising round. Some market analysts believe investors may only be willing to support a valuation closer to $30 billion given the evolving regulatory environment and increasing competitive pressures.

Europe Becomes a Key Pressure Point

A major challenge comes from the European Union’s latest measures targeting low-value e-commerce imports. The bloc recently introduced additional fees on inexpensive parcels entering the region, aiming to create fairer competition for domestic retailers and address the surge in direct-to-consumer shipments from Asian online marketplaces.

Europe accounts for roughly one-third of Shein’s global revenue, making the region particularly important to its expansion strategy. The new charges have reportedly increased shopping costs for consumers, reduced conversion rates, and forced the retailer to reassess marketing expenditures across several European markets.

Growth Remains Strong Despite Headwinds

Despite mounting regulatory challenges, Shein continues to post substantial financial results. Sources familiar with the company’s performance say the retailer generated more than $40 billion in revenue during 2025, while net profit approached $2 billion, highlighting the resilience of its ultra-fast fashion business model.

To strengthen its European operations, Shein has expanded warehouse capacity in Poland and continues investing in logistics infrastructure to improve delivery times and reduce operational costs. However, these investments may not fully offset the impact of stricter trade policies and rising compliance costs.

Competition Intensifies Across Global E-Commerce

Beyond regulation, Shein is navigating an increasingly competitive online retail landscape. Rivals including Temu and other cross-border marketplaces continue to compete aggressively on pricing and customer acquisition, while geopolitical tensions and changing trade policies add further uncertainty for investors.

The company’s reduced valuation expectations also reflect broader concerns over whether the rapid growth enjoyed by ultra-fast fashion platforms can be sustained under tighter regulatory scrutiny in major consumer markets.

IPO Still Expected This Year

Despite the challenges, Shein is continuing preparations for its Hong Kong debut after receiving key regulatory approvals. Investor roadshows are expected to begin ahead of a potential listing later this year, although the final valuation will largely depend on market conditions and institutional investor demand.

For global e-commerce investors, the offering is expected to become a key test of how regulators, geopolitical risks, and changing cross-border trade rules are reshaping valuations for digital retail companies in 2026.

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Jordanian Youth Launches 2026 World Cup Export Initiative to Promote National Products

A group of young Jordanians living in the United States has launched a new initiative aimed at turning the FIFA World Cup 2026 into a global opportunity for Jordanian exports, tourism, and digital commerce. The project focuses on promoting Jordanian products in the US market through e-commerce platforms, digital campaigns, and partnerships with Arab-American communities.

Jordan Targets Global Visibility Through E-Commerce

Launched from New Jersey, the initiative aims to strengthen the international presence of Jordanian products while leveraging the global attention surrounding Jordan’s historic qualification for the FIFA World Cup 2026. Organizers say the campaign is designed to transform the sporting milestone into a long-term economic and branding opportunity for Jordanian businesses.

The initiative is centered around the concept of “economic soft power,” using Jordanian products as a representation of the country’s culture, heritage, and production quality in international markets. The team plans to support local producers by connecting them with consumers in the US through digital commerce channels and targeted marketing strategies.

According to the organizers, the campaign will focus on products that reflect Jordan’s national identity and export potential. These include olive oil, zaatar, dates, spices, herbs, traditional food items, Dead Sea products, handicrafts, and heritage-inspired goods.

Digital Platform to Connect Jordanian Sellers With US Consumers

Ali AlQudah, coordinator of the initiative, stated that the team is currently developing a specialized digital platform that will help Jordanian producers access the US market more efficiently. The platform is expected to support logistics, product promotion, and distribution operations.

The initiative reportedly started with four Jordanian youth volunteers in New Jersey and has now expanded to include entrepreneurs, media professionals, and community members across several US states. Organizers expect participation to increase significantly as the World Cup approaches.

Jordan’s qualification for the FIFA World Cup 2026 is also expected to create new opportunities for tourism promotion. Organizers believe that introducing consumers to Jordanian products can also encourage interest in destinations such as Petra, Wadi Rum, Jerash, Ajloun, and the Dead Sea.

The initiative highlights the growing role of diaspora communities in supporting cross-border commerce and digital trade while showcasing how major international sporting events can create long-term opportunities for e-commerce and export growth.

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Southeast Asia E-Commerce Market Expected to Hit $289.8 Billion by 2029

Southeast Asia’s digital commerce industry is projected to reach $289.8 billion by 2029, highlighting the region’s accelerating transformation into one of the world’s fastest-growing e-commerce markets. The new study points to rising internet penetration, mobile-first consumers, digital payments adoption, and expanding logistics infrastructure as the key drivers behind this rapid growth.

Southeast Asia E-Commerce Growth

Countries such as Indonesia, Vietnam, Thailand, the Philippines, Malaysia, and Singapore continue to strengthen their digital economies as online shopping becomes increasingly integrated into everyday consumer behavior. The region’s young population and strong social commerce culture are also playing a major role in boosting online retail activity.

The report suggests that marketplaces, cross-border commerce, live shopping, and AI-powered personalization are expected to shape the next phase of Southeast Asia’s e-commerce evolution. At the same time, fintech innovation and improved delivery networks are making digital transactions more accessible across urban and rural markets alike.

Industry analysts believe Southeast Asia is becoming a strategic growth region for global e-commerce companies, brands, and investors looking to expand beyond mature markets. The region’s rapidly developing digital ecosystem is attracting increasing attention from technology firms, logistics providers, and payment platforms seeking long-term opportunities.

As competition intensifies, companies operating in Southeast Asia are expected to focus more heavily on customer experience, faster fulfillment, localized strategies, and data-driven commerce solutions to maintain growth momentum in the coming years.

Source: TechNode Global

Blackstone’s Positive €635M Skroutz Deal Signals New Growth Era for Southeast European E-Commerce

Global investment giant Blackstone has agreed to acquire a majority stake in Greek e-commerce platform Skroutz from CVC Capital Partners in a deal valued at approximately €635 million, including debt. The acquisition marks one of the most significant recent e-commerce transactions in Southeast Europe and highlights growing investor confidence in the region’s digital retail ecosystem.

Originally founded in 2005 as a price-comparison platform, Skroutz has evolved into Greece’s leading online marketplace, now offering more than 26 million products from around 9,000 merchants to approximately 2.5 million active users. Over the years, the company expanded its operations beyond marketplace services into logistics, fulfillment, fintech, retail media, and last-mile delivery infrastructure.

Why the Blackstone–Skroutz Deal Matters for the E-Commerce Industry

The transaction reflects a broader trend of major global investment firms targeting regional digital commerce leaders with strong infrastructure and long-term expansion potential. Blackstone sees Skroutz as more than just an online marketplace; the company has built a vertically integrated ecosystem that includes payment services, logistics operations, and fulfillment capabilities across Greece and neighboring markets.

Skroutz has already expanded into Cyprus, Romania, and Bulgaria, positioning itself as an emerging regional player in Southeast Europe. Analysts believe Blackstone’s backing could accelerate this growth strategy and strengthen the platform’s competitiveness against global marketplaces and rapidly growing Asian e-commerce platforms.

Economic Growth and Digital Retail Expansion in Greece

The acquisition also underlines the rapid transformation of Greece’s digital economy. Greece has become one of Europe’s faster-growing economies in recent years, while e-commerce penetration across Southeast Europe still remains below Western European levels , creating significant room for future growth.

According to reports, Skroutz’s revenue grew from approximately €30 million in 2020 to more than €130 million by 2024, driven by rising online shopping adoption, stronger logistics capabilities, and expanding merchant participation.

Despite the ownership change, Skroutz’s founders will remain actively involved in the company. Co-founder George Chatzigeorgiou is expected to continue serving as CEO, while the founding team retains a minority stake in the business.

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