Earlier in June, Singapore-based Novelship named rap icon Snoop Dogg its new strategic advisor for the sneaker marketplace. According to the company, they were the first brand from Southeast Asia (SEA) to have this kind of partnership with the star.

Snoop Dogg will work with the brand to expand its collections from the current 30 sneaker brands and 40 apparel brands under its portfolio while promoting accessibility to the latest footwear trends for collectors in Asia via Novelship’s platform.

“Through continuous innovation and hard work from our team, we constantly strive to understand our consumers and the sneaker landscape. However, despite market changes, our passion for the sneaker industry has always remained the same,” says Richard Xia, the Co-Founder and CEO of Novelship, when asked about the secret behind securing a high-profile partnership.

“I think having this passion as our core allows us to be closer to our users and of course, people who share the same love for sneakers. With this passion as our foundation, countless years of dedicated work to bring greater value to our users will eventually lead us to high-profile key opinion leaders in the field.”

Founded in 2018, Novelship started as a marketplace for buyers and sellers to trade authentic sneakers, limited-edition apparel, and exclusive physical and digital collectibles.

Also Read: Shoes from waste plastic bottles! Neeman’s is going places with its sustainable footwear products

“Sneakers have long been seen as an asset, and it still is for trading, especially with the reselling market projected to grow into a US$6 billion global business by 2025. But more than that, it’s becoming the zenith of self-expression – a statement piece that appeals to the collectors emotionally,” shares Xia in a press statement.

“More than acquiring limited releases or drops, we’re seeing more enthusiasts looking at the stories behind the sneakers and prioritising how it suits their individual styles. But there’s still a sense of ‘gatekeeping’ within the community – an underlying judgement to qualify legitimate collectors based on their preferences or the number of pairs they own. By partnering with Snoop Dogg, Novelship will be able to create greater accessibility for veterans, new collectors as well as the everyday Joe looking to sport some new kicks for everyday wear and every occasion.”

In 2022, the company raised close to US$10 million funding round to further expand in Asia Pacific and explore metaverse integration.

Novelship said it has seen exponential growth in the past couple of years with a CAGR of 37 per cent in revenue and 55 per cent in transactions.

Through an email interview with e27, Xia explains the role that this partnership plays in the company’s growth strategy and what is coming up for Novelship. The following is an edited excerpt of the conversation.

Also Read: This startup by an Indonesian farmer produces ‘leather’ used in shoes and wallets without killing a single animal

Do the back-to-back global crises affect your business? How did you deal with it?

The negative global market sentiment is sure to affect almost every business in some form, and our business is not excluded.

Users’ wallets are getting tighter, and we see that in our users opting for cheaper alternatives. To adapt to changing times, we’ve made a strong push to source for even cheaper alternatives to “hype” sneakers and gears and now even provide an under-retail segment for classic sneakers.

As mentioned, optimising our own cost structure also allowed us the bandwidth to pass on the savings to our users.

What is the role of partnerships like this in your business strategy? What outcome do you expect to achieve from it?

Having a strategic advisor like Snoop not only cements our position as a market leader in the industry but also enables us to gain even more insights into subtle shifts in the market and how we can better value-add with the collections we offer to our customers.

The main outcome is, of course, to not only tap into the credibility and reach of Snoop as a cultural icon but also to tap into his views and insights into how we can provide even more for our ever-expanding user base regionally.

Can you tell us about your revenue model? How did you come up with it?

We realised that there was a gap in service matching and authenticity. Coming from a consumer’s perspective, my co-founder and I always found difficulty in getting the latest drops and authentic products.

We simply seek to match users who’d like to sell, and users who’d like to buy, and to provide a peace of mind for our buyers.

Also Read: 5 proven ways to accelerate your e-commerce sales on a shoestring budget

What is the approach that you are taking to build a profitable business?

Being a commission-based company, naturally, costs are what would determine our profits. With our presence in several different countries, we have constantly developed and optimised ways to reduce our fulfilment costs, from sieving out the logistics workflow that works best for each market and also how to make cross-border transactions even more efficient.

We’ve recently managed to reduce delivery fees in Singapore by almost 50 per cent, which our Singaporean users certainly enjoyed!

Who are your users, and what is your user acquisition strategy?

We have two groups of users, sellers and buyers. Essentially, our strategy is simple. With an established regional network, we are able to facilitate cross-border transactions, enabling sellers to reach customers that they previously couldn’t access directly. For our buyers, we consistently strive to lower prices and have expanded the range of products and collections, creating a one-stop platform for everything streetwear.

What improvements do you plan to implement to your products?

We are currently working on improving the quality of our customer service to users, with changes to our user UX/UI already in the pipeline. Customers can expect a more seamless browsing and purchasing user journey, helping them to sieve through our products for the exact items they want at the prices they have wished for.

We are also strategising on different services across different price tiers to tailor them to varying customer needs and income levels. This includes a tiered mystery box that allows customers to get up to 3x to 10x the value they’re paying for!

What is your major plan for the rest of 2023?

We are confident that in times of uncertainty, so long as we continuously innovate our services and how to further optimise costs, it will prime us to be ready to face whatever market conditions and our customers can be assured that we will always be the best one-stop platform for anything streetwear.

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Image Credit: Novelship

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Indonesia-based electric vehicle (EV) startup MAKA Motors has completed its seed funding round, raising a massive US$37.6 million, co-led by AC Ventures, East Ventures, and South Korea’s SV Investment.

Northstar Group, Provident, AlfaCorp, Skystar Capital, Peak XV Partners (formerly known as Sequoia India and SEA), Openspace Ventures, Shinhan Venture Investment, BEENEXT, Kinesys Group, and M Venture Partners (MVP) also joined.

The funds will enable MAKA Motors to scale its operations, expand its R&D capabilities and facilities, and accelerate production.

Founded in 2021 by Gojek’s former Chief Transport Officer Raditya Wibowo and former VP of Transport Business Development Arief Fadillah, MAKA Motors aims to provide electric motorcycles that offer the perfect blend of driving range, power, usability, and durability at competitive pricing.

Also Read: There is talent shortage in the e-motorcycle space in SEA: ION Mobility CEO

The company’s first mass-market product is currently in development and slated for launch in 2024, with its first batch of pilot vehicles ready for deployment this month.

MAKA Motors will also build its factory in West Java starting later this year.

“By conducting our R&D process in-house and locally, we address the limitations faced by many current 2-wheeler EV companies which outsource their R&D and end up missing out on crucial user insights, control over their supply chain, and potential cost efficiencies. Eventually, we aim to lead the market with innovative solutions that meet the unique needs of Indonesian riders,” said MAKA Motors Founder and CEO Wibowo.

“Since the beginning we have conducted a rigorous in-house research and development process, recruiting top-notch team members with extensive experience working with leading automotive companies in Indonesia, Japan, and Germany in collaboration with world-class technical partners and suppliers. Beyond creating superior vehicles, we dream of building exceptional hardware engineering capabilities in Indonesia and bringing our brilliant local talents home to join us in our mission,” added Co-Founder and CTO Officer Fadillah.

Early this year, Singapore-based smart e-motorcycle firm ION Mobility secured US$18.7 million in a Series A financing round led by India’s two-wheeler major TVS Motors. It is currently focused on the Indonesian market and soft-launched its first model, M1-S, in Jakarta last November.

In Jakarta, ION is setting up a factory which can produce up to 50,000 M1-S per year in the first phase.

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Indonesian foodtech startup Green Rebel further strengthens its expansion plan in Southeast Asia (SEA) this year with a partnership with Starbucks Malaysia and Nando’s Singapore–which the company announced in June.

Since launching in Singapore in March last year, which marked its debut outside of Indonesia, the company has introduced its products in Malaysia and South Korea. After this, Green Rebel is getting ready to enter the Philippines and Vietnam in August, with other markets in the pipeline.

According to CEO and co-founder Helga Angelina Tjahjadi, ever since its beginning in 2020, the co-founders–Tjahjadi and her husband, CIO Max Mandias–have envisioned Green Rebel to be a global company.

“We believe in taking a strategic yet personal approach to our expansion plan, and choose to work with B2B and B2C partners whose vision and business approach are in alignment with ours,” she said.

Green Rebel’s bestselling products include Beefless Rendang, Beefless Satay, Chick’n Karaage, and Beefless Steak which the company said is Asia’s first whole-cut meatless steak, launched in 2021.

Also Read: Why Buhler believes that collaboration is key to support the alternative protein industry

In an email interview with e27, we asked Tjahjadi about the advantages that Green Rebel has as a foodtech startup that was born and bred in SEA that allow them to accelerate their expansion in the region.

According to her, there are four ways Green Rebel products stand out:

1. Deliciously authentic Asian flavours
2. Whole-cut, plant-based beef, chicken and dairy-free cheese
3. Heat-stable products suited for high-moisture and high-heat Asian as well as Western cooking methods
4. Strong nutrition profile and clean label

All the products are made from 100 per cent locally sourced, natural plant-based ingredients and free of added MSG, preservatives and refined sugar.

“Our proprietary food tech is crucial to creating a plant-based protein that is stress-tested for the high-moisture cooking typical of SEA and Asian cuisine. Our Rebel Texturization technology enables us to create a whole-cut ‘meat’ with a fibrous texture like the real thing in our Beefless, Chick’n, and Vish products, while our Rebel Emulsion — a proprietary formulation of coconut oil, water and natural vegan seasoning — acts as an animal fat replacement to achieve the distinctive taste, aroma and juiciness one associate with animal protein,” Tjahjadi explains.

“Green Rebel’s ‘meats’ are able to absorb deep flavours and marination, and are also heat stable—making them perfect for Asian culinary methods like braising, steaming, stewing, hotpot, skewers for grilling, even deep frying.”

In addition to its nutrition profile and clean labelling, Green Rebel has also tested the environmental impact of its products.

“We have also done independent LCA (Life Cycle Assessment) testing on our products and discovered that our meatless beef has 91 per cent less global warming potential than local beef, and similarly our meatless chicken has 84 per cent less global warming potential than local chicken,” Tjahjadi says.

Also Read: Good Startup closes its first alternative protein fund at US$34M, targets 35 companies

Introducing meatless meat

The journey of Green Rebel began in 2013 when the co-founders–who were both practising vegans–returned from their studies in the Netherlands and learned that there was a gap in the Indonesian and SEA market for vegan food.

“That same year, we launched Burgreens — which has now grown to be the largest vegan restaurant chain in Indonesia — using Max’s plant-based recipes,” Tjahjadi says.

“To be honest, we were a little ahead of the plant-based trend, and we put in a lot of effort in market education and were starting to see some traction as plant-based alt proteins became more popular in Indonesia.”

The co-founders noted how the COVID-19 pandemic triggered a heightened consciousness of health and wellness amongst its consumers. This eventually led to the company pivoting its bestsellers at Burgreens into frozen food items under the Green Rebel brand.

This does not mean that its expansion journey is not without challenges. The first challenge is related to market education.

“Our marketing efforts are not only about promoting Green Rebel products and their unique selling points. We also focus on educating consumers about the health and environmental benefits of plant-based diets, plant-based meat, and dairy alternatives,” Tjahjadi explains.

Also Read: OFF FOODS raises US$1.7M in seed funding round to promote alternative protein in Indonesia

“As one of the pioneers in the plant-based space in the region, our journey requires a lot of effort. Our approach is to collaborate with like-minded investors, F&B players, other plant-based F&B manufacturers, and communities who are bullish about revolutionising the food industry to be healthier, more sustainable, and more compassionate.”

Another challenge is related to the diversity of Asian cuisines and cultures, which the company sees as an exciting challenge.

“We need to localise some products in some markets, which is challenging from a manufacturing point of view, as well as our approach in working with distributors and partners in each country. As we roll out into new markets, we ensure we have strategic B2B and B2C partnerships specific to each market, backed by on-ground market research that delves in-depth into local tastes and preferences. We do this by working with restaurant partners, retailers and distributors that understand Green Rebel’s USPs,” Tjahjadi elaborates.

What is on the menu

Throughout 2022-2023, Green Rebel is focusing on its SEA expansion.

“There is a growing number of flexitarians in Southeast Asia with over 20 per cent of urban consumers identifying themselves as flexitarians, notably in Indonesia, Thailand, and Singapore. This is due to the growing awareness of the health and environmental benefits of plant-based protein, coupled with exciting options that are popping up in the market,” Tjahjadi says.

Localising products will be part of their strategy while being mindful of popular Indonesian flavours such as rendang or satay.

“On the product innovation front, we are about to launch two new regional flavours in the second half of this year — Chinese and Filipino.”

Earlier this year, Green Rebel launched dairy alternatives in the form of plant-based cheddar and mozzarella in
Indonesia, and will roll out this category into Singapore, Malaysia, Vietnam, and the Philippines in the near future.

“Most Southeast Asians are lactose intolerant, and dairy isn’t part of our traditional diet. In fact, nine out of 10 Indonesians are lactose intolerant, so we created products that are accessible for this consumer sector. Our dairy alternatives contain up to 50 per cent less fat and calories than their regular versions,” the CEO closes.

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Image Credit: Green Rebel

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The Indonesian startup and tech ecosystem is one of the largest in the Southeast Asian region. Given the current tumultuous times that come with today’s volatile market conditions, learning about methods to optimise customer experience is necessary to keep and preserve enterprise competitive positions. Coming up with strategies that consolidate marketing best practices is especially important in today’s business landscape, particularly for a market as competitive as Indonesia’s. For this reason, Indonesian business leaders have come together to share their expert opinions, key insights, and personal business experiences in order to help Indonesian entrepreneurs strategise and explore a variety of marketing approaches that are suitable for their respective businesses.

The Big Leap Roadshow in Jakarta organised by CleverTap, the all-in-one customer engagement platform that helps brands personalise and optimise all consumer touch points to improve user engagement, retention, and lifetime value, convened Indonesia’s leaders in tech and marketing to discuss ways and methods to implement customer retention strategies.

Also read: Planting the seeds of innovation through the Leave a Nest business tour

Personalisation and optimising customer journeys were overarching themes of the conversation. Attendees from various sectors of the industry got together to discuss retention strategies for accelerated growth. The event was focused on the Retention Playbook Indonesia: The Indonesia Retention Pinnacle: Personalised Customer Journeys with Innovative Technology. The goal was to help startups learn how to retain and win customers during global economic headwinds.

The panel of speakers was comprised of the top tech industry leaders in Indonesia, including Chrisanti Indiana, Co-Founder & CMO at Sociolla, Lika Aprilia Samiadi, VP of Marketing at Rukita, Rajesh Grover, Group VP – Digital & Omnichannel at Kanmo Group, Junior Lie, Head of Retention at Bima+, and moderated by Joe Maulana, Country Manager at CleverTap.

The attendees engaged in a meaningful conversation on the status of today’s market. They explored the broader marketing landscape and approaches to monetisation within their individual companies. Additionally, they delved into innovative mobile and omnichannel techniques to enhance customer engagement and satisfaction. Furthermore, they recognised the importance of devising customer retention strategies suitable for the post-pandemic era.

Knowing your customers and what to sell them

Junior Lie talked about their marketing strategies for launching new games. Lie explained that it is crucial to gather data and understand what the customer does to know the best approach to engage with them, as well as to improve the apps and systems to make them more relevant. It is also important to consider channels and customise content. Being mindful of customer touchpoints and ensuring a good customer journey is critical. This is why at Bima+, their team embodies this philosophy by understanding the preferences of their existing customer base and coming up with creative ways to market new offerings to them.

Meanwhile, Chrisanti Indiana shared that Sociolla’s brand promise to their customers is to be their best friend throughout the customer journey. They apply this brand promise not only through how they communicate to the customers but also through the tools that their team uses. “We meet them where they are. We make sure we understand our customers, and not just rely on their profiles. For example, we do this through personalised recommendations. We communicate with them, and say, “Hey bestie!”. We offer them the best experience that they can have.”, Chrisanti elaborates. By cultivating a personalised relationship with its customers, Sociolla stays true to its brand promise of being a friend to clients.

Also read: Echelon: Developing the next generation of world-changing companies

On the other hand, Lika Aprilia Samiadi highlighted the significance of impactful marketing. At Rukita, their approach goes beyond the mere pursuit of attention or impressions; they prioritise reaching the right audience and delivering the precise message through appropriate channels.

They understand that the real power lies in data-driven insights and fostering strong engagement, which extends beyond completing transactions. By prioritising customer experience, they unlock additional opportunities. For instance, when customers book a co-living space, they can seamlessly access other services such as cleaning and laundry, leading to more transactions and a deeper understanding of each customer. Consequently, Rukita strengthens its brand equity and gains insights into tenant categories based on specific needs and price points. “We try to build a personal connection with all of our tenants and keep the close relationship so that when they move out, maybe move to a different city, there is a preference for our brand if we have a presence there”, Aprilia shared.

This insight has also extended to innovations in their suite of offerings, with Rukita recently opening residences on top of co-living spaces.

Why personalisation is king

Rajesh Grover passionately explained the transformative power of personalisation and customisation strategies in captivating and delighting their customers at Kanmo Group. Within the realm of streaming content, the possibilities are vast and diverse. By closely analysing user behaviour such as their viewing patterns or preference for live or on-demand content, each user is treated to a unique and tailored experience, with messaging and presentation crafted specifically for them. In the pursuit of personalisation and engagement, Grover’s team places unwavering reliance on data-driven insights, allowing them to make informed decisions at every step.

“It is important to know how to use the data, not just generalising it, but being conscious of the many different businesses and customer segments and their preferences”, Rajesh emphasised. Keeping the momentum of customer engagement is important as well. For their team, they developed a feature to extend the TV experience to mobile phones seamlessly, thereby enabling mobile use as a complementary experience.

Also read: HUB.ID: Bridging the Indonesian startup ecosystem to the world

Looking ahead, the panellists further emphasised the importance of customer retention strategies, highlighting a paradigm shift from mere customer acquisition to cultivating customer loyalty enabled by a seamless customer journey.

They stressed the significance of consistent communication and experiences across various channels, be it online or offline. Equally crucial is the implementation of robust systems to streamline data analysis, enabling the deployment of personalised marketing strategies and the delivery of highly relatable messaging. Furthermore, data serves as a valuable asset not only for customer conversion but also for trend prediction. Hence, understanding ongoing conversations, local contexts, and emerging trends becomes an indispensable aspect of staying ahead, especially in a business ecosystem as vibrant as Indonesia’s.

Creating value for your customers

The ultimate goal for any business is to generate substantial value for customers by adopting purpose-driven marketing strategies, rather than solely focusing on cost leadership. It involves addressing the reasons why people should choose to purchase the product, fostering an authentic and transparent experience. While this approach may require more time, its importance cannot be overstated.

In the time of the dubbed “tech winter,” it is unwise to burn money on acquiring large, previously unexplored customer bases. Instead, businesses should focus on nurturing existing customer bases through marketing strategies that actually work: maximising channels and leveraging personalisation to deliver precise messaging. At the end of the day, brand building hinges on the quality, rather than the quantity, of the messaging.

CleverTap has a solid presence in APAC, helping build amazing user experiences for the world’s leading digital-first brands via their intuitive platform, combining the best analytics, segmentation, and engagement tools. With this, businesses can continue building mutually valuable relationships with their customers in the long run. To date, CleverTap has been enabling customers like AirAsia, Electronic Arts, Canon, and TED to retain their customers, among a plethora of many other businesses.

To learn more about CleverTap and its tools to enable and optimise customer retention for your business, visit https://clevertap.com.

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This article is produced by the e27 team, sponsored by CleverTap

We can share your story at e27, too. Engage the Southeast Asian tech ecosystem by bringing your story to the world. Visit us at e27.co/advertise to get started.

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Salmon, a consumer fintech company based in the Philippines, has secured a US$20 million debt facility from US emerging-markets specialist investment firm Argentem Creek Partners.

This will allow Salmon to scale its lending operations across the country further. The fintech firm will expand its loan book, leveraging its existing point-of-sale and cash loan lending, and launch new products in the second half of 2023.

Launched in July 2022 by banking and fintech veterans Pavel Fedorov, George Chesakov, and Raffy Montemayor, the Salmon platform enables customers to access financial products from partners registered with the Securities and Exchange Commission (SEC) in the Philippines.

The fintech firm launched its first credit product four months after inception.

Also Read: Driving financial inclusion in the Philippines: Why last-mile communities are key to winning the battle

The company has 140 staffers in its Manila headquarters.

It also counts Abu Dhabi’s sovereign wealth fund ADQ and one of Europe’s top venture investors among its investors.

Co-founder Montemayor said: “Financial inclusion will be an important driver of sustainable economic growth in the Philippines, and Salmon is committed to continuing to play a key role in this transformation.”

Argentem Creek Partners President and Co-CIO Maarten Terlouw added: “We are a long-term value-oriented investor and are excited to support Salmon in its ambitious drive to expand financial inclusion across the region, as well as to provide best-in-class customer service and make lending more accessible to consumers in the region.”

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