Mumbai: Joom, a leading European marketplace, has launched its operations in India. Recently, a team from the company visited eight Indian cities—including New Delhi, Indore, Roorkie, Ludhiana, Jaipur, Mumbai and Surat—to present cross-border trade opportunities to local businesses.
Following the meetings, more than 350 merchants joined the platform, which offers space to the most popular categories—Fashion, Jewellery, Crystal Healing, Health & Beauty, Health Supplements, Skin Care, Hair Care and Women’s Fashion and accessories. Indian businesses that connected with Joom in early-2022 are already well-versed with the Joom platform and have become among the Top-5 among origins.
The platform has lately become a one-stop shop for Indian exporters, small and medium businesses to gain entry into European and CIS markets. Nearly 50% of these SMEs, Exporters and D2C businesses never sold their products in the global market earlier and were able to reach international markets for the first time with Joom.
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.
Maxim Belov, Head of Asia-Pacific Business Development commented on the event: “Indian merchants who started connecting to Joom at the beginning of 2022 have not only successfully mastered the platform but have made it to the top-5 of origins, showing an average increase of 50% per month since their launch. We are really excited to see the enthusiasm and active position of these merchants. It’s amazing that the very first promotion of this region showed 6X growth of the origin, with some sellers’ growth going up to 10X! That is the most impressive result among all the countries we’ve launched on Joom”.
Joom has onboarded well-established classic brands in Fashion and Health & Beauty. Yet, the success of Indian sellers on the platform is also due to the fact that they introduced new categories and new goods not earlier available on Joom. For instance, cosplay items, such as helmets, armor and shields; products for beekeepers; saddles for horses; and different kinds of gemstones for divination, carpets and traditional fabrics, among other items. All these products, that are often under-represented in many markets, received special recognition from Joom customers.
The platform is fully ready to scale in India. In the second quarter of 2023, Joom is preparing a major promotion which will increase sales by up to 10 times. According to Joom, the Indian market could make it to the top-2already by the end of this year. A tailored logistics solution currently under development byJoom Logistics will contribute a lot to this growth and Indian product expansion on the cross-border market.
About Joom:
The Joom Marketplace is a global e-Commerce platform that helps consumers make shopping easy and entertaining and gives access to high-quality goods worldwide. The Joom Marketplace is a key business area for Joom, an international group of e-Commerce and fintech companies founded in 2016 in Riga, Latvia.
Joom has these businesses at present: Onfy, a pharmaceutical marketplace in Germany; Joompay, a fintech service for daily financial transactions in Europe; Joom Logistics, a business that provides logistics, technology and infrastructure services for cross-border e-Commerce; JoomPro, a platform for cross-border wholesale trade.
