Zod’s department store chain, which sells all its goods online, is to be sold to a new buyer.
The move, first reported by the Hindustan Times, will see Zod shut down and sell its products offline.
Zod’s will sell its online business to a Singapore-based company, Zod Bancorp, and its offline business to Zod Siam.
The Zod chain has been losing business in the Indian market as online shopping has become a bigger part of the shopping experience.
In India, Zods customers can order groceries from Zod.com, a rival online marketplace that also offers delivery.
This will allow Zod to focus on the online business, which is the company’s main source of revenue.
Zod has been a major buyer of e-waste from the Indian marketplace, which has seen its market share decline from around 60% in 2016 to just over 30% in 2017.