Thailand based e-retailer MOXY was acquired by Ardent Capital-backed WhatsNew Group in January 2015 for an undisclosed amount.
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MOXY’s aims to an end-to-end, female e-commerce provider in Southeast Asia, starting with Indonesia and, then Thailand. Its online store will offer a large variety of products catering to women’s needs, such as beauty, fashion, and toddler-centric items.
The VC said that it is targeting Indonesia’s local e-commerce market that has been valued at $2.6 billion while the the female consumer ecosystem market has been valued at $2.4 trillion.
“We realise that the single-largest market in Southeast Asia would be Indonesia by the end of 2015,” said CEO of Ardent Capital, Adrian Vanzyl.
The primary difference between MOXY Indonesia and WhatsNew Thailand is that Indonesia’s MOXY doesn’t redirect visitors to any other sites in Ardent’s lineup.
WhatsNew said the decision to expand into the Indonesian market aligns with the vision to serve and focus on the women’s economy.
WhatsNews started out as an e-commerce firm with only two categories: pets and babies – and now has become the holding company for five more e-commerce sites. MOXY joined the Ardent groups along with pet portal Petloft, baby e-store Venbu, health and beauty ecommerce site Sanoga, and cosmetics firm Lafema.
“As more women join the workforce in Southeast Asia and increase their purchasing power, MOXY will be there to serve their daily lives,” said Shannon Kalayanamitr, CMO, What’sNew Group.
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Andrew Senduk, who has earlier worked with Deloitte, will be the CEO of Moxy Indonesia. According to him, one of the biggest challenges of any e-commerce players has to face in Indonesia is securing local logistics expertise.
“However, our strategic partnership with a commerce company (Ardent’s portfolio) gives us a local advantage. We are able to lower our costs through improving efficiency and focusing on our core competencies, which are product selection and the customer experience,” he added.