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Category: E-Tailing

Retail News Asia is committed to providing both local and global retailers with the latest E-Commerce & Etail news throughout the Asian market. This on a daily base.

  • Alibaba has major ambitions for Vietnamese businesses

    Alibaba has major ambitions for Vietnamese businesses

    Chinese e-commerce giant Alibaba wants to have over 10,000 Vietnamese small and medium-sized enterprises selling on its platform by 2025.

    Its government relation and business development manager, Vu The Tung, who revealed this at a ceremony to sign a memorandum of understanding with the Vietnam Trade Promotion Agency on Tuesday, said his company would help Vietnamese businesses increase their exports by promoting their products.

    The two signatories have been running a training program since August last year to enhance Vietnamese businesses’ ability to participate in global e-commerce.

    Vu Thi Minh Thuy, manager of the agency’s information technology application center, said through the training program over 300 companies have been provided consultancy in online cross-border sales.

    Fifty agriculture, aquaculture, food processing, and packaging companies became ready to sell on Alibaba’s e-commerce platform after completing training in October, she said. The two sides hope to have 1,200 Vietnamese enterprises on the platform by the end of 2021.

    Deputy Minister of Industry and Trade Do Thang Hai, who hailed Alibaba’s support, said: “The Vietnam Trade Promotion Agency and Alibaba will continue to look for enterprises to take part in the training program, and create recognition for Vietnamese brands on Alibaba’s e-commerce platform. They are also planning to create an exclusive section for Vietnamese products on the Alibaba website.”

  • Alibaba told to divest media assets

    Alibaba told to divest media assets

    Beijing has reportedly told the Chinese e-commerce conglomerate Alibaba to divest its assets in the media sector out of concern over the company’s growing public influence. Its founder, Jack Ma, the ebullient and unconventional billionaire who officially retired from Alibaba in 2019 but remains a large shareholder, has been in authorities’ crosshairs in recent months.

    In November, Chinese regulators halted a colossal $34bn stock market listing by Ant Group, an Alibaba subsidiary for online payments. The following month, regulators opened an investigation into Alibaba business practices deemed anti-competitive. Now authorities have told the tech company to drastically reduce its presence in the media sector, citing people familiar with the matter.

    Alibaba’s highest-profile media assets include Hong Kong’s leading English-language daily, the South China Morning Post, and China’s Twitter-like social media platform Weibo, and online video platform Bilibili. Officials are worried that the company has too much influence over public opinion and were reportedly appalled about the extent of its media holdings, the Journal said.

    The government did not specify whether Alibaba was requested to completely withdraw from the media or divest part of its shares.

    On Friday, the Journal reported that Alibaba risks being levied with a record fine in China for anti-competitive practices, which could exceed the $975m paid by US chipmaker Qualcomm in 2015.

    According to the article, authorities accuse Alibaba of preventing merchants who sell goods on the platform from also selling on rival websites.

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  • Lazada Marketing Specialist Joins DBS

    Lazada Marketing Specialist Joins DBS

    In her new role, she will help the bank drive sustainability efforts, create social impact, and democratize banking services with digital innovation.

    Michelle Yip has joined DBS as executive director, group strategic marketing and communications, as per a report by Marketing Interactive.

    The marketing specialist was most recently the regional marketing EVP at e-commerce giant Lazada, which she joined in 2015 as a regional category director, later becoming senior vice president of customer experience and chief marketing officer. She was previously a senior marketing manager at Philips and held lead marketing roles at Samsung Electronics.

    At Lazada, Yip led the Alibaba-owned company’s marketing team across branding, social, public relations, online performance marketing, CRM, customer lifecycle management, and strategic partnerships.

    She also led COVID-19 related consumer engagement to support the community as an essential service provider and
    anchored Lazada’s position as a thought leader in the e-commerce space through identification and shaping of industry trends and directions, according to her LinkedIn profile.

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  • JD.com cashes in on steady online demand, beats market expectations

    JD.com cashes in on steady online demand, beats market expectations

    JD.com Inc’s fourth-quarter revenue beat expectations on Thursday as more shoppers flocked to its website on the back of a broader shift to online shopping triggered by the COVID-19 pandemic.

    While China has largely emerged from coronavirus lockdowns with most businesses resuming production, JD.com’s domestic consumers continue to shop online for everything from daily groceries to luxury products.

    The Beijing-based company posted revenue of 745.8 billion yuan ($114.97 billion) for the year, beating analysts’ estimate of 740.81 billion yuan.

    In a pandemic-struck year, during which retail sales fell 3.9% in China, JD.com’s strategy of ramping up its in-house delivery network enabled faster deliveries.

    The company has also been working to expand into price-sensitive lower-tier cities through its shopping platform Jingxi in a bid to stave off stiff competition from rivals like Alibaba and Pinduoduo that are equally popular.

    As a result, JD.com raked in 110 million new active customer accounts during the year. Meanwhile, Jack Ma’s Alibaba added about 68 million active buyers in the same period.

    U.S.-listed shares of the company, which have been volatile as China looks to tighten scrutiny on its tech giants, were up 3% at $91.98 in early trading.

    The world’s second-largest economy has vowed to strengthen oversight of its big tech firms, which rank among the world’s largest and most valuable, citing concerns they have built market power that stifles competition, misused consumer data, and violated consumer rights.

    The long-term impact of this on JD.com’s business, though unclear, remains a threat. In late December, regulators fined the company, along with Alibaba and other e-commerce sites, 500,000 yuan for engaging in irregular pricing.

    The company’s net revenue rose 31.4% to 224.3 billion yuan in the quarter ended Dec. 31, beating analysts’ estimate of 219.73 billion yuan, according to IBES data from Refinitiv.

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  • SoftBank-backed Coupang raises $4.2 billion in US IPO

    SoftBank-backed Coupang raises $4.2 billion in US IPO

    Coupang LLC, South Korea’s largest e-commerce company, raised $4.2 billion in the biggest share offering in the United States this year after selling stocks in the IPO above its deal target range, people familiar with the matter said.

    The initial public offering price of $35 apiece, higher than the marketing range $32-$34 per share, gives Seoul-headquartered Coupang, which is backed by Japan’s SoftBank Group Corp, a market value of $60 billion.

    Coupang’s successful share offering comes as the U.S. IPO market is at its strongest in more than two decades and investors are flocking to buy shares in technology companies that have benefited during the COVID-19 pandemic.

    The IPO is the biggest in the United States this year, surpassing the $2.15 billion raised by dating app Bumble Inc. It also marks a jump in Coupang’s valuation, which was pegged at $9 billion in a fundraising round in 2018, according to Pitchbook.

    Analysts in South Korea said the strong response to Coupang’s offering was a result of its market-leader position in the country at a time when, like many other e-commerce firms, its sales have grown due to the COVID-19 pandemic.

    “Considering the high level of valuation inherent in the pricing, the market is giving a generous assessment of the company’s achieving the top spot in market share,” said Park Sang-joon, analyst at Kiwoom Securities.

    Coupang was the top-ranked South Korean e-commerce firm in 2020 with 19.2% market share, according to Euromonitor, compared to Naver Corp’s 13.6% and eBay Korea’s 12.8%. It was the 10th largest e-commerce firm in the world, based on retail value excluding sales tax.

    In 2020, Coupang’s net sales jumped 91% year-on-year to $11 billion. Net losses narrowed to $567.6 million from $770.2 million posted in the prior year.

    Founded in 2010 by Korean-American billionaire Bom Suk Kim, Coupang rose to prominence after launching its guaranteed same-day or next-day delivery service in the East Asian country. SoftBank’s $100 billion Vision Fund owns 35.1% of Coupang.

    Achieving a $60 billion valuation would add to good news for the Vision Fund, which is bouncing back from an annual loss in March. Last month, it announced record quarterly profit.

    The company’s shares will begin trading on the New York Stock Exchange on Thursday under the symbol “CPNG.”

    Goldman Sachs, Allen & Co, JPMorgan and Citigroup are the lead underwriters for the offering.

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  • India’s Flipkart mulls US listing

    India’s Flipkart mulls US listing

    Walmart Inc.’s Flipkart is exploring going public in the U.S. through a merger with a blank-check company as it seeks to quicken its listing process, according to people familiar with the matter.

    The Bengaluru-based online retailer has been weighing a U.S. initial public offering and it’s now also looking at other options, the people said. Flipkart’s advisers have approached several SPACs, said one of the people, who asked not to be identified as the information is not public. Flipkart could seek a valuation of at least $35 billion in a blank-check transaction, the people said.

    Deliberations are at an early stage and Flipkart could still explore other options, the people said. A representative for Flipkart had no immediate comment.

    The e-commerce firm is joining other Indian firms like online grocer Grofers in exploring a U.S. listing through SPAC deals. ReNew Power last week agreed to merge with a U.S.-listed special purpose acquisition company in a deal that will give India’s biggest renewable power producer an enterprise value of $8 billion.

    Merging with SPACs, which are shell companies that raise money from public investors intending to acquire a business within two years, will allow Walmart to take its India unit to market at a faster pace than the usual IPO route. As many as 10 Indian companies could go public through SPAC deals before the end of the year, Utpal Oza, head of investment banking for India at Nomura Holdings Inc., said in an interview.

    Flipkart, which is battling with e-commerce arch-rival Amazon.com Inc. and Mukesh Ambani’s retail venture for market share in India, started operations in 2007 and now sells 80 million products on its platforms. Walmart acquired a majority stake in Flipkart in a $16 billion deal in 2018.

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  • Vietnam women’s e-commerce leadership ratio second highest in Southeast Asia

    Vietnam women’s e-commerce leadership ratio second highest in Southeast Asia

    Forty-six percent of e-commerce business leaders in Vietnam are women, the second-highest in Southeast Asia, according to a survey.

    The survey has been conducted in Hong Kong and six Southeast Asia countries by market research company iPrice Group.

    This figure was lower than that of Hong Kong (55 percent) but higher than that of Thailand (44 percent), the Philippines (39 percent) and three other Southeast Asian countries, showed the survey.

    Vietnam’s figure has improved from 37 percent in 2018.

    In Southeast Asia, however, there is still a gender gap in top positions. Only 31 percent of women have C-level roles – executive levels such as CEO or chief financial officer (CFO).

    In the vice president position, just 38 percent are women.

    Overall, there is a 40-60 disparity between women and men when it comes to being in positions of power.

    “Given centuries of gender inequality and women taking time off for child-rearing, the disparity isn’t as wide as we may have assumed,” the iPrice report said.

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  • Jack Ma no longer China’s richest man after coming under Beijing’s scrutiny

    Jack Ma no longer China’s richest man after coming under Beijing’s scrutiny

    Alibaba and Ant Group founder Jack Ma has lost the title of China’s richest man, a list published on Tuesday showed, as his peers prospered while his empire was put under heavy scrutiny by Chinese regulators.

    Ma and his family had held the top spot for China’s richest in the Hurun Global Rich List in 2020 and 2019 but now trail in fourth place behind bottled water maker Nongfu Spring’s Zhong Shanshan, Tencent Holding’s Pony Ma and e-commerce upstart Pinduoduo’s Collin Huang, the latest list showed.

    His fall out of the top three comes “after China’s regulators reined in Ant Group and Alibaba on anti-trust issues,” the Hurun report said.

    Ma’s recent woes were triggered by an October 24 speech in which he blasted China’s regulatory system, leading to the suspension of his Ant Group’s $37 billion IPO just days before the fintech giant’s public listing.

    Regulators have since tightened anti-trust scrutiny on the country’s tech sector, with Alibaba taking much of the heat; the market regulator launched an official anti-trust probe into Alibaba in December.

    Chinese regulators also began to tighten their grip on the fintech sector and have asked Ant to fold some of its businesses into a financial holding company to be regulated like traditional financial firms.

    Ma, who is not known for shying away from the limelight, then disappeared from the public eye for about three months, triggering frenzied speculation about his whereabouts. He re-emerged in January with a 50-second video appearance.

    China’s current richest man, Zhong, made his first appearance at the top spot with a fortune of 550 billion yuan (US$85 billion), largely thanks to the share price performances of Nongfu Spring and vaccine maker Beijing Wantai Biological Pharmacy Enterprise, which he also controls.

    Tencent’s Ma saw his wealth swell 70 percent over the year to 480 billion while Pinduoduo’s Huang’s fortune grew 283 percent to 450 billion yuan, the list said. In comparison, the wealth of Ma and his family grew 22 percent, to 360 billion yuan.

    Zhang Yiming, founder of TikTok owner ByteDance, broke into the top five rankings among Chinese billionaires in Hurun’s Global Rich List for the first time, with an estimated personal wealth of $54 billion.

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  • Walmart’s Flipkart expands grocery sales to more Indian cities

    Walmart’s Flipkart expands grocery sales to more Indian cities

    Walmart-owned Flipkart will sell groceries online in more Indian cities, as it seeks to compete better with Amazon and Reliance in an e-commerce market that has grown rapidly during the COVID-19 pandemic.

    Flipkart has already expanded online grocery sales to more than 50 Indian cities and intends to reach over 70 locations in the next six months, the company said in a statement on Tuesday.

    The Bengaluru-based firm said its grocery service had grown “exponentially” in the past year when many Indians began buying essential supplies online due to the health crisis.

    “Grocery continues to be one of the fastest-growing categories,” said Manish Kumar, senior vice president at Flipkart, adding that the company had seen increased demand for the service from smaller cities in 2020.

    Reliance Industries-owned JioMart last year became the latest big entrant to India’s e-grocery market, a sector that also includes Amazon.com Inc, BigBasket and several smaller players. Indian conglomerate Tata is reported to be buying a majority stake in Alibaba-backed BigBasket.

    Reliance, backed by India’s richest man, Mukesh Ambani, raised over $20 billion last year from global investors including Facebook and Alphabet’s Google for its digital arm, which is expected to support JioMart.

    India’s broader retail industry is also witnessing a high-stakes legal battle between Reliance and Jeff Bezos-led Amazon on the Future Group’s $3.4 billion sale of its retail assets to Reliance, which Future’s partner Amazon is contesting.

    Flipkart’s recent expansion has taken its grocery services to big cities including Kolkata, Pune and Ahmedabad, it said.

    “Grocery is the next big frontier for online shopping and is a key focus area for Flipkart to bring new customers online,” the company added.

  • FJ Benjamin and Lazada Singapore Sign MOU for Strategic Partnership to Boost Online-Offline Sales

    FJ Benjamin and Lazada Singapore Sign MOU for Strategic Partnership to Boost Online-Offline Sales

    FJ Benjamin Holdings (FJB) and leading eCommerce platform, Lazada Singapore, today signed a Memorandum of Understanding (MOU) to forge a strategic partnership that aims to deliver the ultimate retail experience to customers across all channels and devices.

    The proposed partnership will tap Lazada’s technical and online capabilities, and eCommerce platform management expertise, and leverage FJB’s experience in fashion brand management and physical store operation, to boost the eCommerce performance of FJB’s stable of brands in Singapore, Malaysia and Indonesia, as well as to expand and incubate new FJB brands to eventually integrate brick-and-mortar and virtual stores.

    FJB will also discuss with brand principals opportunities for eCommerce in markets Lazada has a presence but where FJB does not, such as Vietnam, Thailand and the Philippines. Powered by Alibaba’s advanced eCommerce tools and systems, Lazada will develop new tailor-made solutions to deliver a truly omnichannel customer experience in managing the full online ecosystem of FJB brands across the markets.

    Group CEO Nash Benjamin said: “FJ Benjamin has been strategising and planning our omnichannel business model for some time now and this partnership with Lazada is intended to get us to where we want to be much faster and in a more cost-efficient manner. This will combine our respective capabilities to strengthen customer experience across brick and mortar and virtual channels.”

    Besides operating principal branded sites, it is also intended to host certain brands on LazMall as well as other regional sites, subject to principal approvals.

    “We are thrilled to be part of this new chapter with FJ Benjamin and value their trust in us,” said James Chang, CEO of Lazada Singapore. “Lifestyle, fashion and beauty are important pillars in our eCommerce plans and shoppers can now look forward to seeing more well-known brands and labels on our platform, for an integrated shopping experience. In the last year, Lazada has supported many businesses that adopted a multichannel approach to set up stores online and we know that our expertise in the eCommerce space will benefit and contribute to the success of a renowned brand like FJ Benjamin, and look forward to seeing positive results with them.”

    While some of the brands managed by FJB, including La Senza, Pretty Ballerinas and Petunia Pickle Bottom, are currently available on Lazada’s premiere shopping platform, LazMall, this is the first time both parties –  one, a traditional brick-and-mortar operator, and the other, the region’s leading eCommerce player – have come together to envision and execute a truly omnichannel model under which customers can control the buying process and enjoy a seamless shopping experience across multiple channels – brick-and-mortar, desktop, and mobile.

    Since the pandemic lockdowns last year forced FJB stores in Southeast Asia to shutter, the Group had secured principals’ approvals to pivot to eCommerce. It has ramped up its online presence from one brand, the cult British fashion label Superdry, to almost all its brands including Guess, La Senza, Casio, Rebecca Minkoff, Pretty Ballerinas, Airfree and Dr Barbara Sturm.

    The MOU states that  “the parties agree both physical stores and online stores are part of the retail ecosystem. With Lazada’s technical and online abilities and FJB’s experience in fashion and lifestyle brand management and physical store operations, this brings together a strong strategic partnership which leverages each other’s expertise to deliver an ultimate consumer experience.”

    Under the terms of the MOU, both FJB and Lazada will, within 90 days, work on a detailed action plan and a definitive agreement to move the partnership forward.

    Mr Benjamin said FJB will continue to take charge of all aspects of product assortment, brand management, pricing, promotions as well as key parts of logistics such as inventory and supply chain. The parties will jointly undertake online marketing and campaign strategies while Lazada will operate the online stores.

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  • Amazon acquires e-commerce platform Selz

    Amazon acquires e-commerce platform Selz

    Global e-commerce marketplace Amazon has bought up Sydney-based e-commerce platform Selz.

    The platform works in much the way as Shopify, providing an e-commerce-ready backend for small businesses to utilize when creating their websites.

    “We have signed an agreement to be acquired by Amazon and are looking forward to working with them as we continue to build easy-to-use tools for entrepreneurs,” said Selz chief executive Martin Rushe.

    The acquisition could signal a shift in how Amazon seeks to grow its position in the e-commerce industry – no longer aiming to get all sellers on its marketplace, and instead of working with them behind the scenes to provide a white-label shopping experience powered by Amazon’s platform.

    The option could be attractive for businesses looking to eschew Amazon’s commission and delivery fees, though the difference between the two options are currently unknown.

    An Amazon spokesperson confirmed the acquisition but didn’t disclose any terms.

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  • Indian officials to examine Amazon after Reuters probe

    Indian officials to examine Amazon after Reuters probe

    India’s federal financial crime-fighting agency will examine findings in a Reuters report, which revealed that Amazon.com Inc has for years given preferential treatment to a small group of sellers on its India platform and used them to circumvent the country’s foreign investment rules, a senior agency source told Reuters on Thursday.

    It provided an inside look at the cat-and-mouse game Amazon has played with India’s government, adjusting its corporate structures each time the government imposed new restrictions aimed at protecting small traders.

    On Thursday, a senior Enforcement Directorate source told Reuters that “we will be examining findings” of the story. The subject matter “is not entirely new for us,” said the source, without elaborating. The source asked not to be identified.

    Amazon didn’t immediately respond to a request for comment.

    Amazon is already under investigation by India’s Enforcement Directorate for possible violation of foreign investment rules. Such probes typically take years in India, and in most cases, details aren’t made public. In the Reuters report published Wednesday, Amazon said it was confident of its compliance when asked about the agency’s probe.

    In tweets issued on Wednesday, Amazon criticized the Reuters report as “unsubstantiated, incomplete, factually incorrect,” without going into specifics. “In last several years, there have been (a) number of changes in regulations; Amazon has on each occasion taken rapid action to ensure compliance,” the company said.

    In an e-mail to employees on Thursday, Amazon’s India head Amit Agarwal addressed the Reuters story, saying he understood “such instances can be distracting.”

    The company was on “the threshold of creating a legacy,” he wrote in the e-mail, which was reviewed by Reuters. “It will require significant innovation, it will push our abilities, we will be misunderstood, but it will be fulfilling.”

    Indian retailers, who are a crucial part of Prime Minister Narendra Modi’s support base, have long alleged that e-commerce giants like Amazon and Walmart’s Flipkart flout federal regulations and that their business practices hurt small traders. The companies deny the allegations.

    The documents reviewed by Reuters revealed that Amazon helped a small number of sellers prosper on its India platform, giving them discounted fees and helping one cut special deals with big tech manufacturers such as Apple Inc. The company has also exercised significant control over the inventory of some of the biggest sellers on Amazon.in, the documents show, even though it says publicly that all sellers operate independently on its platform.

    Government rules announced in 2016 required that an e-commerce platform should “not exercise ownership” over sellers’ inventory.

    Gopal Krishna Agarwal, a national spokesman for Modi’s ruling party, said the findings in the Reuters story were “serious” and that “any predatory policy, deep discounting … will not be tolerated by the government. The party will take a stand on that.”

    Small businesses are “very important” for the party, he said. “Their concerns will be taken care of.”

    In a written response to the Reuters report published on Wednesday, Amazon said it “does not give preferential treatment to any seller on its marketplace,” and that it “treats all sellers in a fair, transparent, and non-discriminatory manner.”

    A leading group of Indian retailers urged the government to ban the local operations of Amazon and said it was considering taking legal action, after the Reuters story was published.

    The Confederation of All India Traders, which says it represents 80 million retail stores, said “the shocking revelations” are “sufficient enough to immediately ban operations of Amazon in India.”

    Amazon did not respond to a request for comment on the trader group’s statement.

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  • Vietnam moves up in e-commerce readiness

    Vietnam moves up in e-commerce readiness

    Vietnam has jumped three places to 63rd in the latest global e-commerce readiness ranking, faring better than several regional peers, a UN report says.

    With a score of 61.6 points on a scale of 100, Vietnam did much better than Indonesia (83rd), the Philippines (96th), Laos (101st), Cambodia (117th) and Myanmar (130th), according to the B2C (business-to-consumer) E-commerce Index report released this week by the United Nations Conference on Trade and Development.

    The ranking measured 152 economies around the world on their readiness to engage in online commerce based on four indicators with a high correlation to online shopping: internet server access; postal service reliability; share of the population who use the internet; and share of the population aged above 15 who have an account with a financial institution or mobile-money-service provider.

    According to the report, nearly 70 percent of Vietnamese people use the internet and 31 percent of individuals aged 15 and above have bank accounts or mobile bank accounts.

    In terms of internet server access and postal reliability, Vietnam scored 64 and 83 percent respectively.

    The report also showed online shoppers in Vietnam account for 36 percent of internet users and 18.7 percent of the 96-million population.

    Switzerland was on top of the index, followed by the Netherlands and Denmark.

    “The Covid-19 pandemic has made it more urgent to ensure countries trailing behind are able to catch up and strengthen their e-trade readiness,” said Shamika Sirimanne, director of UNCTAD’s technology and logistics division, adding that the index underscores the need for governments to do more to ensure more people can avail of e-commerce opportunities.

    “Otherwise, their businesses and people will miss out on the opportunities offered by the digital economy, and they will be less prepared to deal with various challenges,” she said.

    According to an e-commerce development plan approved by the Vietnamese government last year, the sector’s revenues should reach $35 billion by 2025 and account for 10 percent of the total. The government also targets 55 percent of the population shopping online by 2025.

    Vietnam’s e-commerce market expanded by 18 percent last year to $11.8 billion, the only country in Southeast Asia to record double-digit growth in the sector amid the Covid-19 pandemic.

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  • Amazon’s Vietnamese partner reports surge in profit

    Amazon’s Vietnamese partner reports surge in profit

    Textile company Gilimex said its net profits almost doubled in 2020 thanks to a number of high-value contracts with international retailers.

    It reported record revenues of VND3.45 trillion ($150 million), up 36 percent from 2019, and net profits of VND308 billion for the year.

    Gilimex’s main products are handbags and backpacks.

    It tied up with Amazon, the world’s largest online retailer, in 2016 and seen average revenues grow at 20 percent a year since then.

    Its other large foreign partner is Swedish furniture retail giant IKEA with whom it has eight long-term contracts worth $16.2 million.

    The firm also develops new products for Dutch baby products maker Bugaboo and Puma, the German multinational that manufactures athletic and casual footwear, apparel and accessories.

  • Amorepacific inks Memorandum of Understanding with Shopee to boost growth of K-beauty

    Amorepacific inks Memorandum of Understanding with Shopee to boost growth of K-beauty

     Shopee, the leading e-commerce platform in Southeast Asia and Taiwan, and Amorepacific, Korea’s leading beauty company, have signed a Memorandum of Understanding (MOU) to strengthen regional partnership and accelerate the growth of K-beauty in the booming online beauty category in Southeast Asia. This year, Amorepacific will not only be focusing on growing its online presence in Southeast Asia, but have also included Taiwan as a new market within the partnership to boost its reach and share in the wider region. 

    Since launching on Shopee Mall in 2018, Amorepacific has recorded more than 13x of growth in Gross Merchandise Value (GMV), and doubled its e-commerce business regionally, in 2020. The leading Asian beauty brand aims to take its success further on Shopee with data-driven strategies, joint marketing efforts and more co-branded collaborations. Amorepacific also aims to expand the coverage of its current portfolio of brands on Shopee to more markets, in order to meet untapped demand and provide more assortment to consumers. These brands include Sulwhasoo, Laneige, Mamonde, Ryo, Mise en scene, innisfree and Etude. 

    Michael Youngsoo Kim, Head of Amorepacific APAC Regional Headquarters, said, “As our key e-commerce partner in the region, we are glad that we have seen strong and successful results with Shopee, and want to take it further by collaborating on new and innovative initiatives. 

    With Shopee’s deep understanding of the local market landscape in the region, engaged users, and data expertise, we believe that Amorepacific and Shopee together, will be able to better serve the needs of consumers by bringing more of our world-class products to them. We also look forward to the first regional campaign of Sulwhasoo on Shopee Premium, which will help to expand our brand presence with the growing online luxury beauty shoppers.” 

    Chris Feng, Chief Executive Officer at Shopee, said, “As one of the invited brand partners of Shopee’s newly launched Regional Champion Brands Programme1, we are confident of helping Amorepacific capture more growth and opportunities regionally with priority access and support on all regional initiatives and resources. This partnership will also enable us to tap on their vast portfolio and industry expertise to strengthen Shopee’s beauty and personal care offering, giving our shoppers more choices, as well as upgrading the online shopping experience. We look forward to working with Amorepacific to achieve even greater success than before, as they scale their presence and investment on e-commerce this year forward.” 

    Exclusive regional campaign for Sulwhasoo to drive premium category growth 

    With the growth in demand of premium beauty brands exceeding mass beauty brands on Shopee, Amorepacific will be launching the first regional campaign for Sulwhasoo on Shopee Premium this April, to drive online sales and premium category growth on e-commerce. This follows the exemplary performance of Sulwhasoo’s launch in Indonesia, Vietnam and Thailand on Shopee last year. 

    Sulwhasoo can curate brand content and tap on the differentiated user experience on Shopee Premium to enhance its brand storytelling, and deepen engagement with the growing number of premium and luxury consumer segments2. The beauty brand will also explore launching a brand membership programme on Shopee to reward loyal shoppers. 

    Engage users with personalised and unique content 

    Amorepacific also aims to leverage Shopee’s market leadership and deep data insights into consumer shopping trends and behaviour, to help pre-launch new exclusive products that serve existing brand lovers and acquire new users. In addition, Amorepacific will also explore introducing its brand ambassadors such as popular Korean celebrities and artistes, into its Shopee campaigns, strengthening its brand affinity and awareness with consumers across the region. 

    Korean beauty and skincare continues to attract a huge following in Asia and beyond. In Shopee’s annual mega campaigns from 9.9 to 12.12, Amorepacific brands such as Laneige and innisfree consistently ranked in the top five of the beauty category. This is driven by consumers’ preference toward skincare products made with unique, natural ingredient formulas4 and personalised beauty solutions, as well as the global rise of Korean pop culture, particularly throughout Southeast Asia.