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SINGAPORE – Chinese e-commerce platform Taobao has opened its first store in South-east Asia, in Funan mall, to cater to rising demand for its home furniture goods.
Called Taobao Store by Virmall, the shop is a partnership between Taobao and Virmall, a local firm that helps to curate and bring in products from merchants on Taobao.
Opened on Wednesday (Sept 4), the shop offers more than 300 products from furniture to kitchen appliances and clothes. About 80 per cent of the items are from the home and living category, the fastest-growing category in Singapore on Taobao.
The 6,000 sq ft store on Basement Two of Funan mall is about 10 times larger than Taobao’s previous six-month pop-up at multi-label concept store NomadX in Plaza Singapura.
The opening of the Taobao store comes as competition in the e-commerce marketplace heats up, with home-grown shopping platform Shopee opening its new regional headquarters in Kent Ridge on Tuesday.
Taobao, which is under tech giant Alibaba, declined to reveal the revenue generated in Singapore in past years.
There are Taobao stores, such as pop-ups, in other countries.
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