MUNICH--()--ROK Global PLC (GER:RKG), the technology, applications and services company, has announced its online shopping portal for eco-conscious consumers, JP Selects, has acquired rival company LovingEco, Inc. in a move designed to consolidate expertise and revenues and to further strengthen the position of the merged companies as the leading ‘green commerce’ marketplace on the web.
“LovingEco has done extremely well in the fascinating and rapidly developing green commerce market. We took the view that acquiring LovingEco would be far more productive for both parties than on-going competition between us.”
Under the terms of the $ 1 million acquisition, LovingEco will merge into JP Selects and key personnel from LovingEco will join JP Selects as employees and shareholders.
Commenting on the acquisition, Jonathan Kendrick, Chairman of ROK said “LovingEco has done extremely well in the fascinating and rapidly developing green commerce market. We took the view that acquiring LovingEco would be far more productive for both parties than on-going competition between us.”
Part of ROK Global PLC, co-founded by US Billionaire John Paul DeJoria and UK-based serial entrepreneur Jonathan Kendrick, JP Selects is a members-only online platform which promotes the best eco-friendly and sustainable products, brands and companies through flash sales, an online marketplace and distribution partnerships.
In addition to being the co-founder of ROK, John Paul DeJoria is Chairman of John Paul Mitchell Systems, the manufacturer of Paul Mitchell hair care products as well as being the co-founder of Patron Tequila, the world’s leading premium tequila brand and is a renowned humanitarian and social entrepreneur.
ROK recently announced a partnership with Xiu.com, to launch JP Selects in China.
Backed by a $100 million investment from KPCB and Warburg Pincus, Xiu.com is China’s biggest online luxury and fashion shopping portal with a mission to ‘Bring the Best of the World to China’ and has 1,300 employees with offices and warehouses in Shenzhen, Beijing, Shanghai and Hong Kong.
Justine Lassoff, co-founder of LovingEco said “This is an excellent opportunity for us as JP Selects, and their co-founder and social entrepreneur John Paul DeJoria, not only share our mission to promote more eco-friendly and sustainable brands, but with JP Select's turnkey operations and strong distribution, we can focus on creating the best consumer experience in the sustainable market.”
Paolo Fidanza, CEO of ROK Global added “We believe JP Selects is the fastest growing online eco-conscious retailer in the world with a portfolio of more than 3,000 sustainable products and we are delighted to have acquired LovingEco which will further add new brands and products of the highest quality and to our ever-expanding portfolio even faster than we had originally anticipated.”
In addition to JP Selects, ROK has pioneered a portodlio of new technologies and services including high quality mass-market Mobile TV which can be streamed, live and on-demand, over mass-market 2.5G GPRS as well as 3G and Wi-Fi, several mobile security technologies which it licenses to law enforcement agencies, a suite of cutting-edge industrial technology products and multi-language text-to-speech translation technologies.
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