Within a record 5 weeks, the lifestyle and gifts e-commerce start-up, Jooix.com
, secured about US$0.5 mil seed funding from Beacon New Ventures (Beacon), a new private Melbourne equity firm.
Known for its careful curation of eclectic brands in accessories, beauty, stationery and gifts, Singapore-based Jooix was launched late 2011 by Angelina Seow who has over 10 years of cross-industry expertise in global branding and communications. Jooix's integration of an online platform with the experiential pop-up shop concept, has made it a hit among audiences in South-east Asia as well as Beacon's Founder, John Neal.
From the very first meeting, John, the former CEO and Founder of Carat Melbourne, was won over by Jooix’s impressive metrics, including, “Jooix’s over 4000 Facebook likes, strong margins, a repeat purchase value 3 times the industry average, and significant quarterly revenue increases despite no marketing spent.” Beacon was founded in 2012 in Melbourne and has since expanded its operations, investment and marketing advisory business to Singapore.
Angelina shares that “the partnership with Beacon now means we can go full speed ahead to develop a new, highly dynamic online platform for a Q3 release, and keep our happy customers returning with better customer service and fulfilment.”
Over the next 12 months, Jooix will be expanding its market presence from Singapore to Indonesia and likely Thailand. John added, “We are thrilled to help realise Jooix's multi-channel strategy through creative pop-ups and a more engaging platform, so potential customers in South-east Asia will experience Jooix holistically.” Concurrently, Jooix will also grow its curated inventory to meet the demands of its increasingly taste-conscious audience.
Since last year, Jooix has also been garnering partnerships with established industry players including DBS credit cards, online business Clout Shoppe, and luxury lifestyle brands like Sloane Clinic. Further to this, Jooix has been also been extensively featured across various media and recognised as one of Singapore's up and coming e-commerce plays, thanks to its brands repertoire like New York's Noir accessories, and France's Laduree and Moulin Roty gifts.
John attributes Jooix's strong reputation and wealth of partnerships to its passionate founder, “Angelina is the most impressive founder I have met, and her business acumen gives us a lot of confidence.”
John Neal, on investing in Singapore:'We took the decision at the end of last year that Singapore was a good hub for us to set up in.It provides a launching pad into all the South East Asian markets, with both a deep capital and talent base.It also gives us the perfect opportunity to bring some of our Australian based investment interests into the region.It is early days but we think our business in Singapore will grow very strongly over the next year or so."
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