Written in Partnership with Amir Bakian
In the evolving landscape of Asia’s business-to-business (B2B) market, a new player has emerged with a revolutionary approach. Markato, an online wholesale marketplace, has set its sights on transforming how independent retailers and buyers in Asia interact with global brands. Founded by entrepreneurs Brian Lo and Martin Li, Markato is not just a platform; it’s a bridge connecting the East with the best of the West.
Revolutionizing Retail in Asia
For years, the Asian B2B wholesale industry has grappled with inefficiencies. Retailers faced hurdles in accessing global brands, with high costs, logistical complexities, and a need for more streamlined sourcing methods. Markato, launching initially in Hong Kong and rapidly expanding to other Asian markets, aims to solve these issues. Its mission is clear: to connect Asian retailers with unique and premium independent brands from the US, Europe, and Australia.
A Platform Built on Innovation and Accessibility
Markato offers a curated selection of brands at its core, aiding in cost-effective transactions and logistics. This initiative took a significant leap forward with a $5 million seed round funding led by global venture capital firm Lightspeed. The rapid growth following this investment is evident: a growing team, partnerships with over 200 brands, and an expanding product catalog, 80% of which were previously unavailable in Asia.
Streamlining Operations with Technology
Markato’s platform goes beyond mere product listings. It integrates cross-border payment and end-to-end logistics functionality, cutting transaction and logistics costs by at least 20%. Additionally, the platform introduces financial flexibility with options like Buy-Now-Pay-Later for retailers, significantly reducing the risk of unsold inventory.
Leadership with a Vision
Under the guidance of Lo and Li, Markato doesn’t just address current market needs; it anticipates future demands. Both founders, with their rich background in leading marketplace businesses across Asia, bring invaluable insights into the challenges of cross-border retail operations. They envision Markato as a catalyst for change, empowering retailers with access to a global marketplace and operational support that transcends traditional boundaries.
Expanding Horizons
Markato’s ambition continues in Hong Kong. The platform has already made strides in Singapore and plans further expansion across Asia. The ultimate goal is to build a network encompassing over 2,000 buyers and brands, creating a new ecosystem of retail opportunities.
Markato stands as a testament to the power of digital transformation in the B2B wholesale sector. It’s not just a marketplace; it’s a harbinger of a new era where access to global brands is democratized, and retailers are empowered to explore new horizons. As Markato continues to grow, it promises to redefine the Asian retail landscape, offering unprecedented opportunities for growth and success.
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