KUALA LUMPUR: Indonesia-based online grocery platform HappyFresh will enter the physical retail market segment in Malaysia through a partnership with an international supermarket brand.
HappyFresh is looking to expand and strengthen its foothold in a country that is deemed as being a “very significant market”.
Its group chief operating officer, Ronald Chan, said the international supermarket brand wants to set up in Malaysia, with HappyFresh offering groceries through its platform.
He, however, declined to reveal the identity of the international player.
“Malaysia is quite a developed market when it comes to online groceries, as it has big players in the scene.
“For us, the Malaysian market is a little bit easier to operate in, compared to other Southeast Asian countries, due to its traffic conditions.
“In terms of growth, I believe we need to do a better job here, but I can say that the Malaysian market is very significant to us,” he told Bernama after a presentation on “Building On-Demand Asia At A Click Of A Button” at the Wild Digital conference here.
Commenting on HappyFresh’s presence in Southeast Asia, Chan said that his company plans to venture into the Philippines and Vietnam as the two markets are seen as having high potential.
“We did our research over a couple of months. We have been looking at these markets and analysing competitors. We decided that the Philippines and Vietnam are attractive markets to go into and the timing is right,” he added.
He reiterated that the plan to expand its footprint in the region’s fast-growing economies was in line with HappyFresh’s mission to deliver groceries to every single house in Southeast Asia.
Earlier this year, the company raised US$20 million in funding to stabilise, develop and expand its business and technology platform after a volatile two years which saw it launch and then retreat from the Philippines and Taiwan.