Lucy Lifestyle connects business with brands and products.
Founded in 2018, Lucy Lifestyle “Lucy” provides drop-shipping services for business/brands owners when they do e-commerce.
With the rapid growth on e-commerce space in South-east Asia, foreign brands/business which sells products to overseas face a lot of problems when they sell their products directly to their consumers.
The problems include payment collection, import/export, logistic handling and repackaging etc.
Brands owners who wants to start e-commerce business facing difficulties on the ground logistics
Sellers who are exploring on cross boarder e-commerce are having a high entry barrier
When business/brands owner sells a product using the drop-shipping model from Lucy, we will have it shipped directly to the customer.
As a result, the business/brand owner doesn’t have to handle the product directly.
Brand Owners don’t own inventory and they proceed inventory as needed from Lucy fulfil orders.
Lucy’s targets the foreign brands/businesses market
Lucy is working on a fully B2B model to provide sellers the hassle-free drop-shipping service.
Brands owners/sellers who work with Lucy will only have to focus on their e-commerce sales & marketing channels.
Lucy is currently making a 10-20% margin from every goods sold.
In Malaysia, income from e-commerce transactions, namely the selling and/or buying of products online, came in at RM447.8 billion in 2017 against RM398.2 billion in 2015, growing 6% annually over the two years, according to the Department of Statistics Malaysia.
Statista, a global market and consumer data provider, has it at US$3.68 billion in terms of revenue generated by the e-commerce market in Malaysia for 2019, with average revenue per user amounting to US$184.94.
It further predicts the market to grow at a compound annual growth rate of 11.8% from 2019 to 2023, resulting in a market volume of US$5.75 billion by 2023.
Food and drink e-commerce finds a ready and willing audience among time-pressed urban consumers, with young professionals among those most likely to order groceries online and have them delivered (Euromonitor, 2020)
The leading players in food and drink e-commerce remain a combination of leading store- based retailers, often in collaboration with e-commerce players, and digital-only operators, often operating via Lazada or Alibaba. (Euromonitor, 2020)
The forecast period current is set to see food and drink e-commerce register a current value CAGR of 28% (25% in constant 2019 terms) (Euromonitor, 2020)
Lucy Lifestyle differs from their competitors as they target popular foreign brands in Australia and Southeast Asia such as Sola and Remedy to address the rising domestic demand in Malaysia. They are providing a one-stop solution to their customers to overcome cross border logistics convoluted matters.
In this industry there are quite a few established player in the market, their direct competitors are SaleHoo, Twenty3 and Savevalue2u.
Currently the Company is funded by the shareholders. The shareholders is raising funds to secure more foreign exclusive partnerships (supply-side) and domestic distributors (demand-side). Lucy Lifestyle Sdn Bhd is looking for equity investment of RM4m to RM5.5m to further the growth of the company. The investment funds will be use to focus on 3 key areas which are Inventory, Sales & Marketing and Hiring.
Lucy Lifestyle is looking to become the master distributor of leading foreign brands in the region, and to expand the business development into retail technology and build sustainable omni-channel ecosystem.
The initial capital was funded by the shareholders. This Equity Crowd Funding round is Lucy Lifestyle’s first fund raising exercise.
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