Middle East ecommerce giant Souq.com has been rebranded as Amazon.ae as the company continues to push into new international markets.
This comes after Amazon purchased the Dubai based company for $580 million in 2017, marking its most expensive international acquisition to date.
In January it was reported by CNBC that Amazon was reaching out to large third-party sellers in North America informing them of an opportunity to reach customers across the Middle East, but informed them not to sign up to sell on Souq.com as it planned to launch its own branded marketplace in the region.
— Amazon AE (@AmazonAE) May 1, 2019
This week it ended speculation and launched Amazon.ae, rebranding the Souq.com website and selling 30 million products including those formerly available on Souq.com, alongside another five million products from Amazon US.
Anyone visiting the Souq.com URL will be automatically redirected to Amazon.ae, though the Souq domain is still operational in Saudi Arabia and Egypt.
“Today marks a proud day for Souq and Amazon, a day that we have been working towards since the two companies came together in 2017,” Souq.com co-founder Ronaldo Mouchawar said.
“Amazon.ae brings together Souq’s local know-how and Amazon’s global expertise, something we believe will be of significant benefit to UAE customers.
“Our combined team in the region has grown to over 3,600 employees, and each and every one of us is thrilled to invite UAE customers to join us on this journey, where we will continue to grow our product range, ensure great prices, and provide a convenient and safe shopping experience.”