Singapore-headquartered online marketplace group Carousell Group announced Monday it has acquired Ox Street, a Singapore-based marketplaces for authenticated sneakers and streetwear.

Following Carousell Group’s investment from STIC Investments, this acquisition underpins the group’s strategic priority to accelerate its re-commerce growth in Greater Southeast Asia, said Carousell said in a statement.

“Ox Street will continue to operate as its own brand, retaining its name, platform, and team. The acquisition will drive a synergistic partnership between the marketplaces,” it said.

It also said the partnership reflects Carousell’s deep commitment to reimagining the classifieds experience, with a focus on trust and convenience, to make secondhand the first choice.

“The Ox Street team inspects and authenticates every pair of sneakers before it reaches its buyers. Carousell’s advanced and intuitive technology, extensive reach, and marketplace liquidity across a wide range of categories, combined with Ox Street’s authentication capabilities will further propel the mutual goal of creating an experience where transacting secondhand is as convenient and trusted as buying first hand,” it said.

Leveraging Ox Street’s strong domain expertise in the streetwear industry, Carousell also intends to deepen its reach and scale to become a market leader for fashion and luxury goods.

The deal will also allow both marketplaces to capture the growth of the Greater Southeast Asian market across sneakers and more emerging categories driven by Gen Z trends, it said.

“We are excited to partner with Gijs and team in our mission to inspire the world to start selling. We share common values in being user-first and in building communities, as evidenced by the brand love they have created amongst their dedicated community of sneakerheads and fashion enthusiasts, especially amongst Gen Z. They have also built trust by authenticating every pair of sneakers that gets transacted on the Ox Street marketplace. We see immense opportunity in bringing that capability and their learnings to double down on our re-commerce efforts. Most of all, we see this acquisition as joining forces to accelerate our shared vision of making secondhand the first choice.” said Quek Siu Rui, Co-Founder and Chief Executive Officer of Carousell.

“We initially started a conversation with Carousell on partnering up to provide authentication as a service for sneakers, but as discussions progressed we found so much common ground in how we see the future, that we decided it would be much more powerful for Ox Street to fully join the Carousell group. Our focus markets align nearly 1 to 1, and in these markets Carousell was actually the first and remains the largest marketplace for sneakers and streetwear. We started Ox Street to bring a more seamless experience to buying and selling in these categories, and it’s very exciting that we can now continue building our vision for this space on a much larger scale,” Gijs Verheijke, the Founder and Chief Executive Officer of Ox Street.

“With Carousell’s reach and technological capabilities, we can supercharge Ox Street’s ability to innovate and reach more buyers and sellers. Last but not least, we have a lot of shared values and found a very strong cultural fit, and I cannot be more excited to partner with Siu Rui, Marcus, Lucas, and the entire Carousell team,” Verheijke added.

Founded in August 2012 in Singapore, Carousell Group is a classifieds group in Greater Southeast Asia with a mission to inspire the world to start selling, and to make secondhand the first choice.

The group has a leading presence in eight markets under the brands Carousell,, Cho Tot, and OneKyat, serving tens of millions of monthly active users. Carousell is backed by leading investors including Telenor Group, Rakuten Ventures, Naver, STIC Investments, and Sequoia Capital India.

Founded in November 2019, Ox Street is one of the leading end-to-end marketplaces for authenticated sneakers and streetwear in Southeast Asia, focused on Gen Z and Y consumers in the region.

There are 85 million Gen Z and Y consumers in Southeast Asia, who together will spend $128 billion on fashion in 2025. None of them are wearing suits, and these consumers spend a lot of time on their phones. Ox Street’s mission is to create a new way to shop, where buying and selling second-hand feels just as seamless as a luxury eCommerce experience. The company is currently operating in 5 markets across Southeast Asia.

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