BlinQ to introduce luxury e-commerce in the South-East Asian market
Category: #retail  By Ojaswita Kutepatil  Date: 2019-01-14
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BlinQ to introduce luxury e-commerce in the South-East Asian market

Bob Chua, a leading entrepreneur, has recently announced the launch of his latest venture BlinQ, aimed at Asia’s growing luxury fashion e-commerce platform. Apparently, following an IPO (Initial Public Offering) on the LSE (London Stock Exchange) and two successful Big Data exits, the veteran businessman is looking to dominate the hugely untapped market of South East Asia.  

Reportedly, estimates claim that the personal luxury market is at USD 300 billion and is expected to expand to USD 500 billion by 2020.

According to authentic sources, BlinQ deploys Algorithmic patterns and AR (Augmented Reality) in order to endow its users with the newest trends and customized fittings from the digital devices. Sources added that it provides users with different ways of consuming fashion and allows them to subscribe, rent or pay later for the latest luxury designs from the leading and upcoming brands throughout SE Asia.

BlinQ recently revealed that it plans to monetize its platform by white-labelling the simulated changing room AR features to various e-commerce websites. This will not only reduce returns which are presently estimated at 60 percent of all online purchases, but also enhance the purchasing propensity that is expected to push about 30-40 percent more sales, cite sources.

Bob Chua stated that the adoption of e-commerce is highly growing in the luxury space in Asia, where the company is combining the successful models of Farfetch, The Real Real, ASOS, and Rent-the-Runway into a single platform, while targeting the wealthy Asians. He further added that the multi-mode and the multi-brand platform will let wider audience and especially millennials to enjoy luxury.

BlinQ aims to power fulfilment of goods and back-end logistics through fully-automated warehousing to meet the SKUs (Stock Keeping Units), throughput, and several brands. This way, the e-commerce platform will meet the region’s demand for scope, speed, and scale and also optimize customer experiences.

About BlinQ                  

BlinQ, a major FashionTech enabler within the e-commerce and AR space, creates the world’s best shopping experience as it lets users to virtually trial as well as buy designer accessories and apparel from online luxury fashion retailers around the globe. It contains a rental subscription model that allows users to rent the products. It also operates a marketplace for independent Seller Stylists who sell their individual style besides curating looks for their shoppers.



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Ojaswita Kutepatil

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Ojaswita Kutepatil

Ojaswita Kutepatil, a mechanical engineer by qualification, presently develops content for Market Size Forecasters, Algosonline, and other similar platforms. Having had a prior experience in Business Development and Technical Engineering, she now pens down articles pe...

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