Fruugo.com, the fast-growing global marketplace platform has announced that Mike Hancox, previously CEO of Ideal Shopping and former CEO of Shop Direct and former CEO of Otto UK (part of the world’s largest home shopping group), has been appointed as Chairman of Fruugo.com Limited. Soaring revenues and four consecutive years of triple-digit revenue growth have led the board of Fruugo to consider the next major steps in Fruugo’s global expansion.
Hancox said: “I am joining Fruugo at what is an incredibly exciting time for the business. I look forward to leading the already impressive board of Fruugo.com, which is one of the UK’s most dynamic tech growth stories, as we expand our one-stop global marketplace to reach more and more shoppers and retailers all around the world. Cross-border online shopping is seeing extraordinary growth worldwide and Fruugo, with its unique and proprietary global platform, is in a fantastic position to build on its already impressive growth. We already compete with the likes of Amazon, Alibaba, eBay, and Rakuten as we bring more choice to international shoppers.”
Dominic Allonby, CEO and co-founder of Fruugo.com Limited, said: “The board and shareholders of Fruugo are excited that Mike has accepted this new role. His experience in rapidly scaling e-commerce and international retail businesses makes him the perfect candidate to lead Fruugo’s board going forward, especially as we launch our services in yet more countries around the globe and as we also look at fundraising options to further power our growth in the years ahead.”
Fruugo.com is a unique global marketplace in which each shopper, wherever they are in the world, sees everything automatically converted into their own language and currency. The platform brings together a rapidly growing range of international retailers and e-commerce partners from around the globe to offer over 15 million products from 700 retailers to shoppers in over 30 countries.
Fruugo’s unique one-checkout, fully localized marketplace, means shoppers can buy from multiple retailers in multiple countries in one visit and in one transaction – the Fruugo platform makes all calculations and translations in real-time. Fruugo claims that it is the only marketplace in the world that makes global shopping feel truly local.
Over €40m (US$45m) has been invested in the business to date and the site now attracts over one million visitors a week with over 85% of transactions being across borders between multiple territories.