Siroop, the Swiss ecommerce multi-seller shopping mall is going to be closed. The virtual multi vendor shopping center was acquired by a co-owner Coop last month and the company confirmed they were going to close the online multi vendor platform by the end of this year.
The Siroop ecommerce virtual marketplace was started by Swisscom and Coop in 2016. The founders wanted the web marketplace store to become a strong competitor for Amazon in Switzerland. But it didn’t satisfy expectations. Coop revealed they will discontinue the ecommerce multi-seller shopping mall.
That sounds surprising because 2 weeks ago Coop it would completely acquire the web marketplace launched with Swisscom in 2016. The company said: “We will discontinue the Siroop multi vendor platform by the end of the year and in the future rely solely on the online format of Microspot, which has been established throughout Switzerland”.
Since 2016 both Coop and Swisscom invested much money to marketing campaigns to promote Siroop and make it a strong competitor for Amazon. Coop says that those investments weren’t lost. The Coop spokesman said: “We have certainly paid dearly for this project, but we can now use the acquired technical know-how for the further development of Microspot”.
According to reports, Siroop generated over 50 million euros last year, through around 500 dealers on the online marketplace.