Backpackr Acquire 10x10, Buying 100% of GS Retail’s Shares
NSP NEWS, By Hyun-jin Kim and Bok-hyun Lee
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(Seoul=NSP NEWS AGENCY) = Backpackr acquired 10x10, an e-commerce design goods platform.
GS Retail announced it sold the shares of its subsidiary, 10x10, via DART on December 22.
Backpackr purchased 100% of such shares and now holds 80% of 10x10 shares. The 2001-established company was acquired by GS Retail in 2013 and became a popular Korean design goods store for women in their 20s and 30s.
GS Retail announced it sold the shares of its subsidiary, 10x10, via DART on December 22.
Backpackr purchased 100% of such shares and now holds 80% of 10x10 shares. The 2001-established company was acquired by GS Retail in 2013 and became a popular Korean design goods store for women in their 20s and 30s.
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The CEO of Backpackr said, “We will create a coalition of small brands against large companies by associating design e-commerce platform, 10x10, with a hand-made goods marketplace, idus, a crowdfunding platform, Tumblbug, and a creator membership community service, Steadio. The coalition will be a foundation for our effort to create a world where people value creativity and sincerity.
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