Singapore-based C2C marketplace kicks off 2019 with new appointments. Firstly, it names Tan Su Lin, former Singapore Press Holdings (SPH) deputy chief marketing officer and senior vice president of sales strategy & operations as its new vice president of operations.
On the same day, Carousell also announced it has added former Amazon vice president and chief operating officer at RedMart, Colin Bryar to its executive leadership team as an advisor. Bryar will focus on helping Carousell identify opportunities for faster growth and improving the customer experience for users across the region.
The United Kingdom-based bath and body product retailer Crabtree and Evelyn filed for bankruptcy protection in Canada last month due to the change in consumer demand, the rise of ecommerce, and the long-term declines in traditional retail traffic. As a result, the company will be shutting 12 stores in Singapore and moving its business to fully online.
At the moment, some of the outlets in Singapore already emptied goods. Crabtree and Evelyn says all physical stores will be closing in phases over the next few months.
In the quest to expand its ‘Boundary-less Retail’, JD.com has opened two stores at Beijing Capital International Airport (BCIA) and Hohhot East Railway Station in Inner Mongolia.
The store uses JD’s smart store technology to understand how customers interact with products as well as which products to offer them. The technology enables JD.com to analyze customer behavior and traffic flow, which will assist with product selection and inventory management.
New Venture Capital Fund was Founded to Find the Next Unicorn in Southeast Asia with Potentially $200 Million
ATM Capital is a Beijing-based firm that has reportedly completed the first of its $200 million funds which will be used to fuel in Southeast Asia. The firm’s cornerstones include some of the most famous names in the Chinese tech industry, from Alibaba’s eWTP Technology Fund, 58 Group, Sogou’s chief executive officer WANG Xiaochuan to other successful entrepreneurs.
The key focus sectors for ATM Capital will include fintech, business services, and media. used the Chinese market as the benchmark to study the fastest growing companies in Southeast Asia, with the goal of finding a unicorn.
China's ByteDance to License Smartisan's Patents to Take On Tencent in the Online Education Business
TikTok Owner ByteDance is expected to license a number of smartphone maker Smartisan’s patents to expand and develop its online education business. ByteDance is planning to use the technology for research and development related to electronic educational devices.
This comes shortly after ByteDance’s announcement to enter the market to take on Tencent-backed education firm Vipkid. Apart from Bytedance, smartphone maker Xiaomi and internet security firm Qihoo 360 have been rumored to be in talks with Smartisan to purchase patents.