Stallholders in Camden Markets, famed for punks and piercings, have been given a boost to set up or expand their online retail businesses, after their billionaire landlord snapped up a Israeli e-commerce firm.
The $34.5 million (£22.7 million) purchase of StuccoMedia will also help shops such as Cyberdog have the infrastructure in place for an even bigger presence online.
Playtech founder Teddy Sagi’s Market Tech Holdings will further help its tenants by providing a distribution centre in Basildon for online deliveries.
It is the latest move to make the north London tourist spot more of a mixed-use destination, with plans under way for more shops, homes and offices.
Charles Butler, Market Tech chief executive, said: “StuccoMedia’s e-commerce technology will form the centrepiece of our transition to a fully integrated online and offline retail offering.”
StuccoMedia had audited revenues of $6.1 million last year and was founded three years ago. It mainly operates in the US.
“We will now be able to leverage our real estate and e-commerce assets to provide a truly global online marketplace,” Butler added.
