Thai marketplace plans regional expansion

Thai marketplace WearYouWant plans to expand regionally after raising fresh funds.

WearYouWant, which features 450 brands, recently raised $1.5 million through a new round of funding led by Digital Media Partners and participated by Japan-based OPT SEA and Singapore-based IMJ Investment Partners.

The online retailer plans seek further growth by rolling out marketplaces in countries including the Philippines, Indonesia and Malaysia over the next 12 months.

While e-commerce is booming in Thailand due to increasing smartphone use and the popularity of social networks, it still faces some challenges such as low usage of credit cards and limited logistics.

Dmitry Levit, general partner, Digital Media Partners said: “Thailand, with its tech savvy consumers and willingness to embrace mobile commerce, has been a good test market for WearYouWant. We’d now like to help them replicate the same success across Southeast Asia.”

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