Thailand E-Commerce Group Expands to Indonesia to Serve Female Shoppers
JUNE 23, 2015
Updated at 4:10 p.m. on Monday, July 6, 2015
Jakarta. Thailand-based venture capitalist Ardent Capital announced on Tuesday that it would expand its e-commerce WhatsNew Group to Indonesia under the brand MOXY to tap Indonesia's female online market.
WhatsNew said in a statement sent to GlobeAsia that MOXY Indonesia will be different from WhatsNew Thailand and will be the first e-commerce service dedicated to women in Southeast Asia.
MOXY will offer tips and products for women related to beauty, fashion, mothers and babies, living, gadgets and "Muslim style" under the tagline 'Have It All."
Adrian Vanzyl, chief executive officer of Ardent Capital, said it was a strategic move to enter Indonesia's large market. Indonesia's business to consumer (B2C) e-commerce market is valued at $2.6 billion while the female consumer market in South East Asia is valued at $2.4 trillion, according to internal data from Ardent Capital research.
"We realized that the single largest market in Southeast Asia would be Indonesia by the end of 2015," he said in the statement.
"That shift has already taken place with our portfolio companies and we have assembled an incredibly strong team in Indonesia to scale regionally."
Shannon Kalayanamitr, chief marketing officer at WhatsNew Group, said the company aimed to build the first online "everything store" for the female consumer.
"As more women join the workforce in Southeast Asia and increase their purchasing power, MOXY will be there to serve their daily lives," she said.
Ardent has appointed Dutch-born Indonesian Andrew Senduk as CEO of MOXY Indonesia. Senduk previously worked for Deloitte and ING in Europe and has served as the Indonesia country managing director for digital agency Lion&Lion.
Senduk acknowledged Indonesia's massive development in the e-commerce sector but saw challenges in the venture, such as securing local logistics expertise, he said. To tackle the issue, MOXY will join other Ardent Capital-backed companies, e-commerce service provider aCommerce and business to business marketplace Bizzy.
"Our strategic partnership with aCommerce gives us a local advantage. We are able to lower our costs through increased efficiencies and focus on our core competencies, which are product selection and the customer experience," he said.
WhatsNew also announced it had appointed Jeremy Fichet as group CEO to lead MOXY.
Fichet was co-founder and managing director of French-based Cdiscount Thailand, a subsidiary of e-commerce conglomerate Group Casino.
Fichet expressed optimism in building MOXY.
"Women lead online shopping in our region and I believe the company has taken the right steps to capture this opportunity," he said.
"With my experience scaling e-commerce business across multiple countries in Asia, I'm excited to work with the team and influence the company's future projects right from the beginning."
Established in 2013, WhatsNew Group started as a group of e-commerce websites that included Petloft, for pet care products, Venbi for mother and baby, Sanoga for health, and Lefema for beauty. The e-commerce venture acquired MOXY in Dec. 2014 as the company tried to diversify its line of business in the female lifestyle sector.
The company said that after the launch of MOXY Indonesia, Thailand's WhatsNew will also be rebranded under the same name.