UrbanFox plans expansion in Malaysia and Vietnam
In collaboration with Enterprise SIngapore, Singapore-based omnichannel startup UrbanFox will be expanding to Malaysia and Vietnam.
UrbanFox recently also established O2O capabilities, online to offline, together with Keppel Land at Ho Chi Minh City’s Estella Place shopping mall in Vietnam. This facility enables people to make purchases both at stores as well as online on the company’s web store with the option for both in-mall collection as well as home delivery.
A new corporate office along with a digitally enabled warehouse in Selangor is in the plan for Malaysia. Malaysian Digital Economy Corporation (MDEC) recently also appointed UrbanFox as a cross-border e-commerce initiative partner.
Speaking of UrbanFox’s innovative spirit, Enterprise Singapore’s Director for Transport and Logistics, Law Chung Ming said, "UrbanFox is a good example of a forward-looking Singaporean company that is leveraging innovation to expand its business in South-east Asia.”
He further urged local firms in Singapore to partner with Enterprise SIngapore and leverage their connections to tap global markets.
The Singapore based company presently takes care of the e-commerce and logistics requirements of over 500 brands across industries ranging from food and fashion to books and more, with a portfolio of more than 20,000 products across. The expansion will also serve as an advantage to brands associated with UrbanFox as they can now reach customers in these geographies as well.
Emphasizing on what the expansion plans hold for partner brands, Joe Choa, Managing Director, Urban Fox said, “The holistic support we can provide will help brands in the region more rapidly grow their customer base and tap cross-border opportunities.”
As per a Google-Temasek report, South-east Asia's Internet economy worth is expected to cross US$240 billion by 2025 with affordable mobile Internet driving rapid growth across e-commerce and other sectors. By 2025 the e-commerce market is predicted to grow from US$2.8 in 2018 to US$15 billion in Vietnam, and from US$2 billion in 2018 to US$7 billion in Malaysia.
Keppel Logistics, parent company of UrbanFox, invested $17 Mn in UrbanFox in February 2018. The funding was intended to support growth plans in e-commerce channel management, inventory management and warehousing. With the expected market growth and rising interest in digital, this might prove to be a good time for UrbanFox to set expansion plans in motion.