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Tag: goxip

  • Goxip expands into Singapore as APAC push gains pace

    Goxip expands into Singapore as APAC push gains pace

    Hong Kong and Malaysian mobile fashion-and-beauty marketplace Goxip will launch in Singapore on August 19. The service has more than 600,000 active monthly users in Hong Kong alone and counts luxury retailers such as Net-a-Porter, Farfetch, and Asos as well as brands like Nike, Alexander McQueen and Topshop among its partners and advertisers.

    As part of the launch, Goxip will invest in offline/online media and influencer marketing, leveraging its RewardSnap KOL monetization network.

    The launch will follow a whole redesign of the website and app’s look and feel in order to appeal even more to Singaporean consumers. It aims at educating Singaporeans on how Goxip is used to search, compare and shop products from global retailers in a few clicks.

    “I believe Singapore to be an extremely good opportunity for Goxip to expand its user base and sales,” said Goxip co-founder and CEO Juliette Gimenez.

    “We reached over 15 million in sales in Hong Kong in the last two years, with over 600,000 monthly active users and close to 1 million downloads of our app globally. Singaporeans and Hong Kongers are very similar in terms of purchasing behavior, expat demographics, and internationalization. This tops our confidence to scale further and reach new heights in Singapore!”

    The expansion is part of Goxip’s strategy to penetrate more APAC countries on top of its home base of Hong Kong. Goxip gained significant traction in Hong Kong since its launch in 2017 and plans to expand to further areas such as the Middle East and Oceania. Goxip’s team is also increasing in size to allow its business to grow and launch new features for its website and app.

    “We are building a strong team in Hong Kong to support Goxip expansion and improve performance further,” said Goxip’s VP marketing Michele Tardelli. “Our brand is well-known in Hong Kong and our track record proves that product/market fit is there. Now it’s time to get Singaporeans to know us, engage with our website/app and shop. We have a holistic marketing plan to make this happen.”

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  • HK’s Goxip secures funding for massive expansion plan

    HK’s Goxip secures funding for massive expansion plan

    Hong Kong fashion e-commerce business Goxip has secured US$1.4 million from financial services firm Convoy Global Holdings. The investment will fund Goxip’s planned expansion in Southeast Asia and allow the establishment of new payment services, including installment loans to online shoppers. The initiatives are expected to make the firm’s products more affordable to a broader audience in the region.

    Goxip has already set up in Malaysia and Thailand.

    Goxip raised $5 million early this year from Chinese imaging/video app developer Meitu and Nan Fung Group along with input from three individual investors. Meitu, which is also bringing its 456 million active users into play, also invested in this round of funding.

    Goxip’s CEO Juliette Gimenez said: “With Meitu’s help, we’ve been growing faster than expected, especially with our Thailand launch ahead of schedule. Bringing Convoy on board will allow us to keep our momentum while also adding an important fintech component to our play, especially as we enter emerging markets across Southeast Asia where spending power still lags behind Hong Kong and Singapore.”

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  • Meitu try on e-commerce to boost revenues

    Meitu try on e-commerce to boost revenues

    China’s beauty-enhancing app developer and smartphone maker Meitu is looking to boost revenues by expanding further into e-commerce, leading a $5 million funding round in Goxip, a Hong Kong-based online shopping platform.

    Juliette Gimenez, CEO and co-founder at Goxip, said that the Chinese photo-editing applications maker was the biggest contributor to its series A funding round, making it the first e-commerce company in which Xiamen-based Meitu has invested.

    “Meitu will be a strategic partner,” Gimenez said. In addition to the investment, the two companies would cooperate in various ways, including on Goxip’s expansion in the lucrative mainland China market, she said

    Gimenez said she started talking to Meitu’s executives, including founder Cai Wensheng, about six months ago, when the selfie app company was seeking to diversify.

    Meitu, whose image-processing applications are reportedly used to edit more than half of China’s selfies on social media, now labels itself a “mobile internet company.”

    “We will not comment on one single project,” Meitu’s spokesperson said. However, she added: “Meitu’s investment strategy has always been revolving around new technology, beauty and user growth.”

    Last year Meitu rolled out two e-commerce platforms. MeituDIY allowed users to design and create personalized outfits using artificial intelligence and to purchase the items from its platform. The other application, MeituBeauty, specializing in cosmetics and skincare, allows shoppers to try out the products by uploading their selfie.

    The investment in Goxip is also expected to accelerate Meitu’s overseas expansion.

    Goxip partners with more than 500 international online retailers. Its data base comprises more than 36,000 luxury brands and 5 million items, according to its website. The fashion retail platform allows users to search similar products by uploading photos.

    Despite a market cap of 48.97 billion Hong Kong dollars ($6.26 billion), Hong Kong-listed Meitu has not made a profit since it was founded in 2008. But its business segment including online advertising, e-commerce and virtual item sales turned profitable for the first time in the first half of last year, according to its financial filings.

    In December 2017, Meitu acquired a stake in Hong Kong-based media company PressLogic, which uses data and technologies including machine learning to better target advertising on social media.

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  • Goxip mixes fashion, celebrities and shopping

    Goxip mixes fashion, celebrities and shopping

    Star-gazers – those who focus on the celebrities, that is – now have an app they can use to find fashion matching what their idols are wearing.

    A Hong Kong startup has launched an app called Goxip which uses social media, photo recognition technology and news feeds to connect fashion lovers with online retailers.

    So when 25 year old Tina in a downtown Hong Kong cafe sees Fan Bingbing wearing a stunning new dress on a red carpet stroll she can copy the image on Goxip, crop the photo and wait while the app digitally searches online stores around the world for something similar.

    The app’s creators – Juliette Gimenez and YC Lau – hope Goxip will become “the commerce layer, in between the world of [celebrity news] content and the retailers,” according to an interview.

    It’s aimed at ‘ordinary people’ who cannot afford to splurge $5000 on designer rags worn by a Hollywood superstar – but want something as similar as they can. Meanwhile, fast fashion apparel brands are constantly studying catwalks and red carpets to spot new trends and cuts they can incorporate into their next weekly or fortnightly release.

    Goxip helps the two parties meet – hopefully resulting in online sales for the retailer.

    Behind the app is a system constantly searching for new trends and celebrity revelations.

    “When you read the news, you can go straight to the article. Or you can shop. We have a snap and crop function. I like this dress, so I crop. I like this red dress for my cocktail party. I crop, take a photo, type the style and a list of clothing that matches your desire is listed,”.

    Gimenez, Goxip’s CEO, worked with group-buying startup uBuyiBuy.com in 2010 which was later acquired by Groupon. Lau, Goxip’s head of product, is an investor and adviser for Chinese language web forum HKGolden.com, which boasts 6 million daily page views.

    Goxip already has relationships with over 40 retailers (including Amazon, Shopbop, Zalora, Bloomingdales and TopShelf) and estimates it already has about 1 million clothing items in its database.