Singapore-based horizontal marketplace Carousell has signed a partnership with Ideal Team Enterprises Limited (ITEL) to trade second-hand autos and conduct inspections in Malaysia.

Following the classified company’s 51:49 merger with ITEL, the joint entity, Orion SPV Pte Ltd, will integrate MCars Sdn Bhd (known as Mudah Auto in Malaysia) as a subsidiary of Carousell, according to a statement posted by Mudah Auto on LinkedIn.

Meanwhile, Carousell has allocated shares worth $512,223 to a special purpose vehicle (SPV) owned by the former shareholders of online sneaker marketplace Ox Street.

OxStreet SPV has received a total of $2.5 million in shares from Carousell since it acquired the former for an undisclosed sum last year. Ox Street will continue to operate as an independent business.

In Hong Kong, Carousell has launched a new marketing campaign called Masters of Secondhand to support what it calls “alternative consumer behaviors” — sustainable shopping habits, value consciousness and careful budgeting in a challenging economic environment. The company is utilising real-life users to share their experiences in several videos that focus on such used items as trainers, furniture, baby products and sportswear.

“We are aware that the economic downturn is affecting the spending habits of consumers in Hong Kong. We are delighted to witness the rising value of secondhand items in consumers’ eyes … [These] have become top-of-mind in their purchase journey,” said Kevin Huang, managing director of Carousell Hong Kong.

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