Southeast Asia’s leading lady-lifestyle online shopping destination Moxy and Indonesia’s top mother-and-baby platform Bilna have announced a strategic merger to form MoxyBilna, making it one of the region’s largest e-commerce M&A of its kind to date.
The merger will create an online destination dedicated solely to serve the region’s rapidly growing women’s fashion and lifestyle categories.
“This partnership will make MoxyBilna a leading ecommerce player in the region,” Jérémy Fichet, former Group CEO of Moxy, said in the statement. “Bilna’s strong positioning and footprint in Indonesia, coupled with Moxy’s strengths within the women e-commerce ecosystem in Thailand and Indonesia makes the new entity a serious tier 1 player, staking the entity’s flag on ‘#1 Shopping Destination for Women in Southeast Asia’.”
“With this move, we have more than doubled our buying power and transaction volumes, ultimately creating more meaningful economies of scale and allowing us to offer even better offerings to our hungry customers. By coming together as a joint entity, we are now well-positioned in both Thailand and Indonesia to accelerate our growth and country expansion time table by over 18 months” Ferry Tenka, former Indonesia CEO of Bilna, cited.
Upon the completion of the merger, the current Group Moxy CEO Jérémy Fichet has been appointed as Group CEO of MoxyBilna and the current Bilna CFO Eka Himawan has become Group CFO of the merged company.
According to The Economist Intelligence Unit’s report, women in Asia are driving the growth of online shopping with 63 per cent of women browsing for products and services at least once a day, and 49 per cent preferring online to offline shopping already.
The report states that 53 per cent of Indonesia’s workforce and 47 per cent of Thailand’s are female, which makes their role in online shopping more important. The demographic data shows that the number of women in senior roles in both countries has also been increasing over the years. In addition, Thailand breaks the world’s record of having the highest number of women CEOs of 49 per cent.
“The [MoxyBilna] merger brings together an experienced team with proven results with the passion and deep understanding of women’s needs and customer behavior. This amplifies the shared vision to fuel the female economy in Southeast Asia focusing on the vastly underserved needs of the women consumer.” said Shannon Kalayanamitr Group CMO of MoxyBilna.