Founders of Zilingo Ankiti Bose dan Dhruv Kapoor. (Image credit: Daily Social)

Singapore startup Zilingo wins over the US-China trade war

Faradita Prayusti
Business & Industry
Start Up
Jul 18, 2019
5314
The current trade war between Washington and Beijing brings bad and good news for global trade players. Those who get bad impacts from the dispute have to struggle while others look for advantages amid the trade war.

Zilingo, a fashion e-commerce startup based in Singapore may gain benefits from the ongoing dispute between the two largest economies in the world since the garment production industry leaves China to Southeast Asia countries which is Zilingo’s play area.

The e-commerce’s Chief Executive, Bose said Bangladesh, Cambodia, India, Indonesia, and Vietnam turned into fashion’s manufacturing center due to the trade war.

Over 4,000 manufactories in the region that Zilingo presently works with have received advantages from the current situation.

The company viewed a potential opportunity since producers don’t want to obtain sources from China directly. These other countries quickly fill the gap and it benefits Zilingo immediately, added Bose.

The White house’s rhetoric of “Made in America” also become an opportunity for Zilingo because several US brands preferred to get sources from Southeast Asia factories directly. This enables companies to dodge high tariff on China’s products when they ship their products to the US.

Established in 2015, the founder of Zilingo Ankiti Bose and Dhruv Kapoor wanted to support small merchants expanding scale by creating an online marketplace for fashion and lifestyle. According to Bose and Kapoor who in charge as Zilingo’s chief technology officer, many small retailers have limited access to technology, financial assets, as well as economies of scale.

Zilingo’s existence is for connecting fashion suppliers directly with brands, which cuts production’s cost since the middlemen are eliminated.

In February 2019, the e-commerce was going to expand its services to Indonesia, the Philippines, and Australia by raising fund up to US$226 million. Zilingo’s ongoing series D funding round is supported by Burda Principal Investments, Temasek Holdings, Sequoia Capital, Sofina and EDBI, according to the company.

Source: https://www.techinasia.com/singaporebased-ecommerce-startup-zilingo-winner-uschina-trade-war

Zilingo , Singapore , Startup , E-commerce , Fashion , Trade-war , US , China , Southeast , Asia