SINGAPORE, Sept. 4, 2017 /PRNewswire/ -- Singapore Exchange listed YuuZoo Corporation Limited ("YuuZoo" SGX:AFC), today announced that YuuLog Europe, the new joint venture it recently set up with the management of Cinram Logistics France ("CLF"), the market leader in entertainment sector logistics in France, has acquired the business and assets of CLF.
The assets include a business that in 2017 is expected to generate more than SGD30 million in revenues.
CLF is the market leader in entertainment sector logistics and distribution in France. CLF has a 40-year history, and is serving a large network of big-brand customers. Its current client list includes leading global entertainment and eCommerce brands such as Amazon, Sony Pictures, Universal Studios, Warner Bros., 20th Century Fox, Zalando and ASOS. The operations cover everything in customer management from order to cash. CLF processes over 25,000 SKU per day from its fully owned warehouses covering 24,000 sqm and with a storage capacity of 26,000 pallets. The fully owned office building which sits next to the main warehouses covers 1,000 sqm. The premises sit on 60,000 sqm of fully owned land.
The eCommerce capabilities of CLF include expertise in reverse logistics, cross-dock, outbound/inbound and co-packing.
Says Thomas Zilliacus, Executive Chairman of YuuZoo Corporation Limited: "YuuZoo has through the acquisition of the assets and business of CLF in one stroke achieved 3 major things. First, the Company has gone from being only a social commerce marketplace operating primarily in the developing world, to become a complete end-to-end eCommerce player in the huge European eCommerce market. Second, the Company has acquired a large new customer base consisting of some of the world's strongest brands in entertainment and eCommerce. Third, the Company has added a very strong European team of some 250 people that will be central to YuuZoo's European expansion", he concludes.
France will be the base for YuuZoo's expansion into the rest of Europe through resellers, franchisees and marketing partners. The operations will include all aspects of YuuZoo's business; tribal networks, eCommerce, payments and games. The new base in Europe and the complete end-to-end eCommerce capabilities, combined with YuuZoo's offices in Asia, will allow YuuZoo to also offer its services to eCommerce companies in Asia who want to enter the European market.
ABOUT YUUZOO:
Operating from several locations across Asia, Africa and now Europe, and listed on the SGX mainboard (SGX: AFC), YuuZoo has built a partly patented mobile and online technology platform on which several in-house developed products in a unique, and for each market fully localized manner, offer targeted social networking, e-commerce, gaming and payments to hundreds of millions of consumers across all continents.
With franchisees and partners covering 69 countries with more than 4 billion consumers, YuuZoo reaches a huge global audience through smartphones, computers and TV sets.To see the YuuZoo platform, log-in to: http://www.yuuzoo.com. For more information about the company, please log on to: http://www.yuucorp.com.
For media enquiries, please contact:
| Angelique Magno YuuZoo Corporation Limited Contact: +65 65770677 Email: angelique.magno@yuuzoo.com |
Jeremy Foo Prospr Communications Contact: +65 66341 241 Email: jeremy@prospr.com.sg |
