Ensogo Ltd (ASX:E88), the No 1 e-Commerceย business in the South East Asia and Hong Kong region, is pleased to announce it
has secured a strategic investment from Chinaโs leading online discount retailer,Vipshop Holdings Limited (NYSE:VIPS) (โVipshopโ).
As a part of the strategic investment, the companies will also enter a strategicย operating partnership, whereby Ensogo will have access to Vipshopโs vast volumeย and selection of existing inventory, all to be made available for immediate shipping.
The companies also intend to cooperate in the areas of logistics, merchandising,technology, marketing and user acquisition; the very expertise, which enabledย Vipshop to scale its revenues from US$32m in 2010 to US$3.77 billion in 2014.
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Kris Marszalek, chief executive officer at Ensogo, commented, โWe are extremelyย excited to welcome Vipshop as an investor, shareholder and strategic partner. As aleading online discount retailer for brands, Vipshop has pioneered the online discount
retail model in China. We believe our long-term perspective for partnership will allowย us to generate positive synergies between our businesses in the future. After moreย than doubling our Gross Turnover to over A$150m in 2014, we look forward toย working with the Vipshop team to help further strengthen and develop Ensogoโsย business throughout Southeast Asia.โ
About Ensogo
Ensogo Ltd is the No 1 e-Commerce business in the South East Asia and Hong Kongย region.Listed on Australian Securities Exchange and headquartered in Singapore withย operations in Hong Kong, Singapore, Malaysia, Philippines, Indonesia and Thailand,Ensogo is focused on connecting products for sale to over 600m+ consumers inย South East Asia and Hong Kong through its e-Commerce websites.
Ensogo will continue to capitalise on its market-leading positions in the rapidly
growing e-commerce / flash sales market throughout the region.