Premium retailer of mum and baby products Motherswork has been acquired by Singapore-headquartered parent-tech firm The Parentinc for an undisclosed sum.
Launched in 1998, the omnichannel retailer offers mother and kid products from more than 300 brands through a network of two stores in Singapore and 10 in China. Motherswork also has the exclusive distribution rights of 20 brands including Avent, Joolz and Stokke.
“This acquisition will enable Motherswork to expand its footprint into the other countries in Southeast Asia through The Parentinc,” said Sharon Wong, founder and CEO of Motherswork.
Motherwork will join The Parentinc’s portfolio of brands, including Mama’s Choice, and online communities such as TheAsianparent and Vietnam-based Webtretho. Following the acquisition, The Parentic will increase Motherwork’s physical stores in the region, including in Vietnam, where Mama’s Choice will be distributed exclusively by Motherswork.
“While we have done a dramatic job of capturing the hearts and minds of the online market, 70 per cent of retail in Southeast Asia is still predominantly done offline,” said Roshni Mahtani Cheung, Group CEO and Founder of The Parentinc. “[The acquisition] will further refine our content to community to commerce business model, which not many companies have pulled off successfully.”
The Parentinc said it positions itself “firmly on the trajectory towards an initial public offering” by bolstering its commitment to an ecosystem for parents in Southeast Asia. The company is backed by investors, including Central Retail Corporation, East Ventures and Fosun International.
Further reading, How millennial parents are changing the kids’ food market.