Popular Bookstore acquired by HK investment firm ZQ Capital

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Singapore-based bookstore, Popular Holdings, has reportedly been acquired by ZQ Capital, a Hong Kong-based investment company.

Popular Holdings’ businesses in Singapore, Malaysia, Greater China and North America were reportedly fully acquired on 1 November 2023, according to Lianhe Zaobao.

According to Lianhe Zaobao, Popular assured its stakeholders that its core values, operations, and services would not be changed. Aside from books and stationery, Popular has also recently expanded its product offerings to include IT gadgets.

It reportedly added that the acquisition would not affect human resources policies, including employee structure, salary, and benefits.

Popular’s chief executive, Chou Cheng Ngok, will reportedly also retire following the acquisition. Media reports also said that Popular aims to become a comprehensive education service provider, on top of its publishing and bookstore businesses. It aims to explore emerging markets in Southeast Asia and China.

MARKETING-INTERACTIVE has reached out to Popular and ZQ Capital for comment.

Earlier in the year, Popular was in the news for a legal letter it sent to Singaporean clothing store, Hashtag65, over alleged trademark infringements. This was a result of a Hashtag65 t-shirt that featured the word ‘populist’ on a bright red background, referencing the political situation regarding then-speaker of parliament, Tan Chuan-Jin, in July 2023.

In the letter, Popular's solicitors noted that Popular takes the protection of its intellectual property rights, including its registered trademarks, its copyright works, its substantial goodwill that it has built up over the years and its logo very seriously as a "cherished" brand in Singapore.

It noted that the t-shirts were likely to cause Popular "serious commercial harm" particularly amongst those who believe that the bookstore has endorsed or agreed to this use.

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