WRITTEN BY THE EDGE
SingPost says it has agreed to purchase a 95% stake or 47,500 ordinary shares in Supertoken Pte. Ltd. also known as Clout Shoppe Pte. Ltd. from Soh Syan Hui for $204,250. Upon completion of the proposed investment, SuperToken will become a subsidiary of the company.
Clout Shoppe Pte. Ltd. is an online luxury store for ladies in Singapore. It offers ladies fashion, accessories, and skin care products. The company also operates Clout Nine, an online community featuring visions of style and editorial content. In addition, it offers private sales service, which provides access to brands at insider prices. Clout Shoppe Pte. Ltd. was formerly known as Supertoken Pte. Ltd. The company was incorporated in 2010 and is based in Singapore. As of February 15, 2011, Clout Shoppe Pte. Ltd. operates as a subsidiary of Singapore Post Ltd.
SingPost says the acquisition of SuperToken is in line with the company’s strategy of growing our e-commerce business.