(Image source from: Rakuten will close Singapore)

Rakuten, Japanese online retailer, will be closing  its early model e-commerce marketplaces in Singapore, Indonesia and Malaysia, by the end of March, 2016, Rakuten announced. The move is considered as part of the company's strategy overhaul.

The shutdown of the three markets will affect the workers of the company. The company will lay off a number of its employees. A company spokesperson, said that,  “the group of employees to be impacted by the close of the B2B2C e-commerce marketplaces are under 150.″

Rakuten said that, "in SE Asia, as the market itself changes and adapts, we are looking toward C2C (customer to customer) and mobile business models for e-commerce and other businesses."

At present, e-commerce of the company is operating under the B2B2C model or business-to-business-to-consumer model in the region. It combines business-to-consumer and business-to-business models.

According to the Rakuten, the regional Asian headquarter of the company will be continued in Singapore. The company will also operate other businesses like, Rakuten Travel, Kobo, Viber, Rakuten Ventures and  Rakuten Institute of Technology in the region.

Nandini