Startups announce expansion milestones

03-Dec-2021 Intellasia | BangkokPost | 5:02 AM Print This Post

Bangkok-based logistics startup Flash Express and e-commerce company CREA are expanding their footprint in Southeast Asia.

Flash Express has announced the rollout of full services in the Philippines following its joint venture with AIF Group Laos in September, which targeted Cambodia, Laos, Myanmar and Vietnam.

John de Guzman-Tarampi, general manager of Flash Express Philippines, said the company had spent months on strategic preparations, and currently has more than 138 hubs and outlets in the country.

Meanwhile CREA, an e-commerce service startup founded by former Lazada executives, has secured a $25 million investment from SuperOrdinary, a global growth partner for beauty brands, which will take a minority stake in the company.

CREA said this strategic partnership will help it attract new brands to the region’s digital commerce ecosystem by offering a one-stop solution covering the US, China and Southeast Asia.

This latest funding takes total investment in CREA to $38 million.

The minority investment creates a strategic alliance between CREA and SuperOrdinary, which the companies said would help them develop a new cross-border network and allow their respective portfolios to expand into new markets.

According to the latest e-Conomy SEA 2021 report by Google, Temasek and Bain, the Southeast Asian e-commerce market is expected to reach $234 billion by 2025.

This partnership comes on the heels of a monumental year for e-commerce in Southeast Asia, where digital retail grew 85 percent during the pandemic and 80 percent of all consumers are expected to digitally shop by the end of 2021.

The beauty and personal care industry in the region is expected to grow by more than 5 percent annually, driven by digital commerce penetration, providing SuperOrdinary with a highly attractive market opportunity.

“Southeast Asia presents a unique opportunity for global brands with young digital savvy consumers who are increasing their consumption power and avidly engaging with global trends through digital media,” said Aimone Ripa di Meana, CREA co-founder.

The strategic investment from SuperOrdinary will also help deliver better access for international brands that meet customer demand, while also creating a global distribution platform to allow brands to reach digital consumers in Southeast Asia, China and the US.

CREA will use the proceeds to expand its presence across this region.

Following its Thailand launch in 2019, followed by Malaysia and Singapore in 2021, CREA plans to open in the Philippines, Indonesia and Vietnam in the near future.

https://www.bangkokpost.com/business/2225323/startups-announce-expansion-milestones

 

Category: Thailand

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