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Magazines Archives - 2012 February

Dealised ventures into HK's competitive, fast-growing group-buying space
Story 8 - E-Commerce

SINGAPORE-BASED global groupbuying operation Dealised has entered the highly competitive Hong Kong market with its recent local acquisitions of Lokaly Network Limited (LNL), owner of group-buying services platform Lokaly and consumer group-buying site ValuUp, the latter a top-10 consumer deals site.

Dealised CEO Jonathan Marchbank described the acquisitions as part of the group's Asia growth story. "With these deals, Dealised now has a strong position in a fast-growing, sophisticated Asian market, a solid customer base and a strong team. The Hong Kong deals market is worth more than US$60 million and is growing. Our Hong Kong team will help us grow right across Asia."

Hong Kong entrepreneur Doug Aitken, co-founder of LNL, added: "By leveraging Dealised's resources and expertise, we will continue to evolve the daily-deal model. Dealised's track record demonstrates the business model value. Dealised is after all the company that helped its partners in Australia and Scandinavia dominate their respective markets, beating Groupon and Living Social."

There are more than 30 companies offering daily deals in Hong Kong and the market is estimated to generate revenues of between US$60 million and US$70 million per year. The market is projected to be worth some US$4 billion by 2015.

The acquisition was completed through an allequity deal. Dealised also announced Jason Keiles' appointment as senior vicepresident for global business development, as well as its latest partner, UK-based betterNbetter, a European design-focused site.

Keiles is responsible for identifying and recruiting partners to use Dealised's technology and services group-buying platform, from turnkey solutions to customisable options. ra

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2012 February Stories:

Customer loyalty programmes
Part 1: Good intention but poor execution: what works, what doesn’t?

Five specialised events at FHA2012 to meet growing industry demand

Sustainable lifestyle retailing
New 'green' store pioneers innovative standards

HR, Training & Customer Service

Retail World Asia 2012 launches´ online´ component

Retailers, mall developers see new potential in China

Shang Xia by Hermés goes to Paris

Dealised ventures into HK's competitive, fast-growing group-buying space

Tesco to streamline multi-channel operations with Retalix 10 system

Singapore to open maiden suburban waterfront mall in 2015

Goodman invests US$639m to build facilities for online retail market

Starbucks enters India with Tata partnership

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