VIP Plaza Targets to Be The Best Flash Sale-Based E-Commerce in Southeast Asia

VIP Plaza, Indonesian e-commerce which holds the concept of flash sale as its trademark, announced couple of days ago (27/1) that they’d just sealed an undisclosed Series A funding from Yahoo Japan Capital. Becoming the first Indonesia-based startup which gets funded by this subsidiary of Yahoo Japan, VIP Plaza looked to allocate the money to support its expansion in Southeast Asia.

In regard to the funding, VIP Plaza’s COO Yoga Sades Sugeharto explained that currently VIP Plaza is on the track of becoming the most prominent online discount mall in Southeast Asia, with Indonesia and Malaysia as its core focus. When the time comes, the expansion may be broadened to the other countries in the region as well.

VIP Plaza’s Co-Founder, Tessong Kim, was also on the same page. He stated, “Our unique concept will turn us into the best online discount mall for fashion and lifestyle products in Southeast Asia. We have successfully drawn many Indonesian customers to come and shop at our website everyday, resulting on 70% of re-purchase.”

Kim further claimed that VIP Plaza has attracted both local and international brands with significant sales volume. Over the past year, 400 brands have joined the startup so far. To have even more, Kim revealed that his team will implement the flash sale concept in every country in the region.

Unlike when being publicly introduced for the first time, VIP Plaza has upgraded its payment and delivery procedure. Now, it has supported payments via BCA, Mandiri, Cash on Delivery, and Veritrans gateway. It has also partnered with RPX and JNE for its delivery.

“Flash sale online business in Southeast Asia is really promising, because the growth of middle class in the region is quite stable, and our business model targets this growing segment,” Sugeharto ended.