Tag Archives: Vipshop

Ensogo to dominate Southeast Asia

Ensogo is on a roll. Last March, the Southeast Asian ecommerce giant raised $15.5 million from Ward Ferry Management of Hong Kong and Vipshop, China’s leading online discount retailer. Just last week, the company announced that it has raised another $29.3 million from a consortium of Australian and Asian institutional investors as well as Vipshop, which contributed $2.4 million to the funding round. As part of the deal, Vipshop now holds a 10% stake in the company. So what does this mean for Ensogo’s future? With its strategic partnership with Vipshop, Ensogo now has access to Vipshop’s vast inventory of low-cost Chinese products and will also benefit from the Chinese retailer’s proven expertise in the areas of logistics, merchandising, technology, marketing and user acquisition, which impressively allowed it to grow its revenue from $32 million in 2010 to $3.77 billion in 2014. With the help of Vipshop, Ensogo can further strengthen its business throughout Southeast Asia and continue its upward trajectory.