On 19th November, e-commerce platform Buy2Sell announced an additional investment of US$28 million in 2022 to expand and develop the online B2B in Vietnam.
Despite the impact of COVID-19, e-commerce platform Buy2Sell has reported an increase in goods consumption, showing important demand for online shopping in Vietnam.
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Buy2Sell sales in the first half of this year have tripled year after year, reaching a total value of US$24.5 million. The top-selling items are food, cosmetics, home appliances and other FMCG.
Up until Q4 of 2021, the platform has added 60 percent of its estimated revenue of approximately US$28 million that has been reinvested into B2B e-commerce development, by allowing local sellers to log in B2B directly on platform instead only foreign suppliers.
In November 2021, Buy2Sell received two consecutive awards, “Top 100 trusted businesses in Vietnam” and “The Famous Brand in Asia Pacific 2021”. From these achievements, and unlike usual startups, Buy2Sell is the only platform in Vietnam to grow and develop itself based on its own sales performance rather than external investment. This confirms and reinforces Buy2Sell’s position in Vietnam’s marketplace.
Through an interview with Harry Morant, CEO and Elena Linh Co, Founder Buy2Sell Vietnam, it is known that the platform has built an ecosystem of large buyers in the medium and high-end segments of the market with a total of over 1 million purchase orders.
“Buy2Sell has stable income and monthly growth for which we are proud of. In the first quarter of 2022, we will make new announcements about our plans for the Vietnamese market,” Harry Morant shared.
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Buy2Sell Vietnam is a B2B e-commerce platform for imported goods in the country since 2015. The company distributes 90 percent of foreign brands. The platform is also a financial distribution partner of UOB Bank and cooperate with CJ Logistics to support import and export in Vietnam.