German Startup Rocket Internet, the people behind Asia’s Daraz and Kaymu ecommerce websites is all set to merge the two brands together into a new entity they are calling the ‘Daraz Group’.
Daraz and Kaymu are operating in more than 3 countries with the latter being present in over 5 Asian countries.
While Daraz and Kaymu both belong to Rocket Internet, the business model for both have been widely different. Kaymu started as a marketplace which allowed small vendors to create their stores online and sell to local market. While Daraz has always been a premium online store which focuses on the larger market with a great deal of products.
The Kaymu set up is currently operating in Pakistan, Myanmar, Cambodia, Nepal, Bangladesh and the Philippines. From now on, the standalone marketplace will only be available in Pakistan and Bangladesh only.
Rest of the countries will see the two names merge under the name Daraz Group.
The CEO of Daraz group, Bjarke Mikkelsen believes that merging the two names will help them bring about new features that will fix Kaymu as a marketplace.
Currently there is no proper system intact that keeps the vendors at check on Kaymu, hence people face a lot of problem on the platform. Merging the two names will allow Rocket Internet to develop a comprehensive rating system that will automatically ban under performing merchants from the platform.
The operations will be merged and will be centralized under a team based in Karachi.