Singapore — Una Brands, Singapore-based e-commerce aggregator, has struck its first strategic alliance with South Korean domestic counterpart, KlickBrands. Together they will invest KRW₩120b, or US$100m, in the countries’ e-commerce market over two years.
The alliance will link Una Brands’ global cross-border network with KlickBrands’ understanding of the South Korean market. Together, they will help grow the local e-commerce brands domestically and into Southeast Asian markets namely Indonesia, Malaysia, and Thailand. Una Brands and KlickBrands will scale at least 25 or more profitable e-commerce brands, across categories such as health, K-beauty, baby, pets, and home and living brands. South Korea was identified as a key market for Una Brands, being the fifth-largest e-commerce market globally with an annual growth rate of around 14% and an expected market value of US$250b by 2025.
Kiren Tanna, co-founder and CEO of Una Brands, said, “Of all the local e-commerce aggregators, we chose KlickBrands as our strategic partner because of our shared vision, mission, and values. Their hands-on approach to working with the brands they acquire mirrors our own work ethic. This will make KlickBrands an instrumental partner in strengthening Una Brands’ presence in, and understanding of, the South Korean e-commerce landscape. In return, KlickBrands will benefit from our robust operational, technological, and acquisition capabilities.”
KlickBrands, founded in 2021 by entrepreneurs and venture capitalists Brian Hyun and Jung Ho Joo, is focused on creating opportunities for brand owners to accelerate their growth across eCommerce platforms and markets.
Brian Hyun, co-founder and CEO of KlickBrands, commented that the partnership with Una Brands bears testament to the growing possibilities for e-commerce brands in South Korea.
“When Una Brands approached us, we immediately recognised that their capabilities were a great match for our own, particularly with the strong team that they have built, their expertise in e-commerce in the Asia Pacific (APAC), and their global distribution network. We bring to the partnership local e-commerce expertise, as well as the understanding and empathy of local brand owners’ mindsets. We are very excited to have the backing of Una Brands as we continue to reach out to more brand owners in South Korea to support their next phase in expansion,” Hyun said.
Una Brands, an e-commerce aggregator in APAC that comprises a team with a wealth of experience behind it, has established its presence in key markets namely Singapore, Australia, India, China, Indonesia, Malaysia, and Taiwan in under a year, with South Korea being the next strategic market for the business’ expansion and development. Since its launch in 2021, Una Brands has to date acquired over 20 firms, with the earliest brands seeing over a 50 per cent increase in sales and profits.
