Brands
ShopClues signs MoU with KOTRA to get authentic Korean products to India
MUMBAI: ShopClues and Momoe Technologies (part of Clues Network) have entered into a strategic Memorandum of Understanding (MoU) with the Korea Trade-Investment Promotion Agency (KOTRA), reinforcing its commitment to making available authentic and premium Korean products on its online platform.
As part of the MoU, KOTRA will identify outstanding Korean enterprises and support their entry into the Indian retail market with the help of ShopClues. In turn, ShopClues will offer an exclusive category called K-Avenue dedicated to Korean products on its website. ShopClues will also hold promotional events with the help of KOTRA while also encouraging Indian vendors to import and sell Korean items on its platform.
“We expect that the advent of Singapore’s Qoo10 into India through Shopclues and Momoe will be a turning point in bringing both premium Korean goods into the Indian market, and Indian products to Korea’s customers,” said KOTRA South Asia Regional Head Office director General Moon Young Kim.
“As Korea’s sole National Trade and Investment Promotion Agency operating in 130 overseas branch offices, including 6 in India, KOTRA will support mutually beneficial activities in both countries. Any Indian company that wishes to be connected with Korean counterparts and products can contact us for our utmost assistance,” he added.
Momoe Technologies, as a part of the MOU, will look into the setting up of logistics centres in major Indian cities and offer logistics services including transportation and customs clearance, to ensure a seamless supply chain. Qoo10-owned logistics company Qxpress will also support the venture by offering competitive international shipping rates to Korean exporters.
By cushioning the heavy resources required of most enterprises looking to enter a new market, the effects of this MoU are expected to enable a smoother entry for Korean brands in India. Additionally, it will provide freer access to a wider variety of Korean products for Indian consumers to choose from.
“This MoU is a win-win for all parties involved, but especially for our Indian customers who will now have access to some of the best and most diverse range of products manufactured by outstanding Korean enterprises. We also see this as a huge opportunity to be able to bring India’s beautiful products to the booming Korean market,” said Shopclues.com co-founder and CEO Sanjay Sethi.
Brands
Safex Group appoints Richa Malhotra as group chief financial officer
Former Standard Chartered executive to steer finance
NEW DELHI: Safex Chemicals has appointed Richa Malhotra as group chief financial officer, strengthening its leadership team as the company prepares for the next phase of expansion in specialty chemicals and global agrochemicals.
In her new role, Malhotra will lead the group’s financial strategy, capital architecture and governance framework as Safex scales operations across multiple verticals including branded formulations, specialty chemicals and contract manufacturing.
A chartered accountant and graduate of Shri Ram College of Commerce, University of Delhi, Malhotra brings more than two decades of experience in business finance, strategic planning, corporate banking and client management.
Before joining Safex, she served as executive director, financial markets at Standard Chartered, where she led teams across India and Sri Lanka and worked closely with large corporates, global subsidiaries and commercial banking clients. Her expertise includes capital structuring, treasury operations, risk management and financial markets led financing solutions.
Safex Group promoter director and joint managing director Piyush Jindal, said the appointment comes at a pivotal time for the company. “Safex stands at an inflection point as we build an integrated platform across branded formulations, specialty chemicals and contract manufacturing. Richa’s experience across global financial institutions will strengthen our financial discipline and help unlock value across the group,” he said.
Malhotra said she was looking forward to contributing to the company’s next chapter of growth. “Safex has built a strong reputation over 35 years with its focus on integrity, innovation and agricultural insight. I am excited to be part of the organisation as it expands its footprint in India and global markets,” she said.
The appointment comes as Safex continues to strengthen its financial foundations and scale operations internationally, positioning itself for future growth milestones.
