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Backpackr Acquire 10x10, Buying 100% of GS Retail’s Shares

NSP NEWS AGENCY, By Hyun-jin Kim and Bok-hyun Lee, 2023-12-24 14:18 ENX7
#GSRetail #Backpackr #10x10 #Acquisition
NSP통신- (이미지 = Backpackr)
(이미지 = Backpackr)

(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.

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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.

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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