Singapore, 05 April 2019 – Synagie Corporation Ltd. (SGX: V2Y) (“Synagie”, “思腾控股有限公司”, the “Company”, or the “Group”), Southeast Asia’s leading e-commerce enabler that assists brands to execute their e-commerce strategies using its cloud-based platform, is delighted to announce that its brand partners achieved another online sales record, raking in GMV of over S$1 million within 24 hours during Lazada’s Birthday shopping event on 27 March 2019, with a year-on-year growth of more than 400% compared to 2018.
Following Singles’ Day pioneered by Alibaba, which falls on the 11th of November each year, the Lazada Birthday is becoming one of the most popular online sales events in Southeast Asia that takes place annually towards the end of March. This year’s event saw a new strategy adopted by Synagie’s team to launch more than 80 types of different real-time promotions for its brands on Lazada’s online marketplace. These real-time promotions were managed by Synagie’s team of marketing experts who implemented new promotional mechanics on-the-fly based on the response to the previous promotion using Synagie’s cloud-based platform. 15 different types of Surprise Boxes containing goodies worth more than twice their retail price from Synagie’s brand partners were snapped up in minutes just after midnight by online shoppers via Lazada’s platform.
Executive Director of Synagie, Ms Olive Tai said, “It was a phenomenal event and the overwhelming response from online shoppers was way more than we had imagined. More than just sales alone, it was about how we have helped our brand partners engage with consumers online. We would like to congratulate our brand partners who achieved top 5 best-selling brand status on Lazada during the event and thank all our brand partners for their support and for working closely with us to implement our real-time promotions strategy. We would also like to thank our dedicated team for coming up with new promotion ideas on-the-fly and relentlessly processing the large number of orders round the clock.”
Synagie saw a surge in GMV of more than 5 times compared to 2018 during the same event. 12 of Synagie’s brand partners achieved top 5 best-selling brand status during the event in the make-up, skincare, health supplement and milk formula categories in Singapore, Malaysia and Vietnam. The Group also saw an increase in daily sales on other marketplaces outside of Lazada during the event.
Synagie is in regional expansion mode with a presence in Singapore, Malaysia and most recently Vietnam, on boarding one of the world’s biggest luxury beauty companies to help them manage their e-commerce operations there. The Group expects to begin its operations in new markets, Philippines and Thailand, by the end of 2019.
 Gross merchandise value (GMV), is the value of merchandise sold, processed or fulfilled by Synagie.
About Synagie Corporation Ltd.
Synagie is a Singapore-founded e-commerce solutions provider and one of SE Asia’s leading e-commerce enablers that provides end-to-end solutions to help brands and business shift online. Synagie is also a winner of the Deloitte Fast 500 Asia Pacific awards and is ranked No 1 fastest growing technology company in Singapore and No 22 in Asia Pacific in 2018. Synagie helps its Brand Partner which include SMEs and MNCs execute their e-commerce strategies by selling their goods or services to consumers online and providing one-stop services and integrated technology to manage their multi-channel e-commerce operations. The end-to-end commerce enablement and fulfilment solutions is achieved through the Group’s cloud-based Synagie Platform which leverages on technology such as Cloud Computing, Big Data Analytics and Artificial Intelligence. This solution encompasses all aspects of the E-commerce value chain covering technology, online store operations, content and channel management, digital marketing, customer service to warehousing and fulfilment. Synagie has a platform-based, asset-light business model with three synergistic business segments, namely E-Commerce, E-Logistics and Insurtech that work together to offer innovative and efficiency driven solutions to its Brand Partners. Synagie is listed on Catalist of the Singapore Exchange Securities Trading Limited (“SGX-ST”) on 8 August 2018 (SGX:V2Y).
Investor Relations and Media Contact:
Chan Hui Si
Mobile: +65 8298 4408
This press release has been prepared by the Company and its contents have been reviewed by the Company’s sponsor, RHT Capital Pte. Ltd. (“Sponsor”), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited.
The Sponsor has not independently verified the contents of this press release. This press release has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made, or reports contained in this press release.
The contact person for the Sponsor is: –
Name: Mr Khong Choun Mun, Registered Professional, RHT Capital Pte. Ltd.
Address: 9 Raffles Place #29-01, Republic Plaza Tower 1, Singapore 048619
Tel: +65 6381 6757