Up-and-coming business owners shaking up Asia’s retail and ecommerce industries

Asia’s retail and e-commerce sectors are currently witnessing a wave of innovation driven by a group of young entrepreneurs under 30. These dynamic individuals are revolutionizing the industry by introducing fresh concepts and technologies that cater to consumer needs and leverage digital platforms.

One such disruptor is YOOME Hwang, the founder of YOLO, a digital retail platform that connects global markets with consumers. Inspired by her travels, Hwang has created a platform that allows consumers to purchase international products from the comfort of their homes, a concept that has gained traction during the COVID-19 pandemic.

In response to international travel restrictions, Hwang launched Croket, an online marketplace offering 700,000 regional products from 25,000 sellers worldwide. With three million downloads and a gross value of 155 billion won ($115 million), Croket has capitalized on the growing e-commerce demand in these unprecedented times.

Meanwhile, entrepreneurs Rizky Arief Dwi Prakoso and Karina Innadindya Amron Naibaho have identified a niche opportunity in the perfume industry in Indonesia. Their company, HMNS, produces quality perfumes at affordable rates using locally sourced ingredients and has sold 800,000 bottles in just one year, with plans to expand into Malaysia.

In Singapore, Chia Pei Qi and Kenneth Kuan have made a mark in the luxury watch industry with their brand Delugs, known for high-quality straps and accessories that attract celebrities like Ed Sheeran. In India, Vanshika Kaji and Vaibhav Makhija have diversified their family businesses by launching KNYA Med, a manufacturer of medical lab coats and scrubs, and What’s Up Wellness, a line of supplement-infused gummy sweets, respectively.

These young entrepreneurs are setting new standards in the retail and e-commerce industry by embracing creativity, adaptability, and digital transformations. Their success stories underscore the importance of innovation and consumer-centric approaches in driving business growth in today’s competitive market.