Thailand-based venture capitalist Ardent Capital announced on Tuesday that it would expand its e-commerce WhatsNew Group to Indonesia under the brand MOXY to tap Indonesia’s female online market.
WhatsNew said in a statement sent to GlobeAsia that MOXY Indonesia will be different from WhatsNew Thailand and will be the first e-commerce service dedicated to women in Southeast Asia. MOXY will offer tips and products for women related to beauty, fashion, mothers and babies, living, gadgets and "Muslim style" under the tagline "Have It All".
Adrian Vanzyl, chief executive officer of Ardent Capital, said it was a strategic move to enter Indonesia’s large market. Indonesia’s business to consumer (B2C) e-commerce market is valued at USD2.6 billion and the female consumer market at USD2.4 trillion, according to internal data from Ardent Capital research.
(Source: Jakarta Globe )