Designed to celebrate the rich and diverse culture of Singapore
Reports successful launch with plans to rapidly expand Company’s own branded products within the multi-billion-dollar global gift market
Singapore, June 26, 2024 (GLOBE NEWSWIRE) -- Webuy Global Ltd. (Nasdaq: WBUY) (“Webuy” or the “Company”), a Southeast Asian community e-commerce retailer, today announced the launch of its Sing Select gift series, a new line of high-quality, thoughtfully curated gift sets designed to celebrate the rich and diverse culture of Singapore. The series was officially launched in May 2024 with the Plum Wine Gift Set as the first proprietary product in the series. Consumer demand for the Plum Wine Gift Set has exceeded expectations, with more than 700 sets sold in a single day.
Building on the initial success of the Plum Wine Gift Set, Webuy is expanding the Sing Select gift series to include a variety of other high-quality Company-designed and wholly owned branded products. Upcoming launches will feature a range of gift sets such as healthy nuts, premium teas, and gourmet coffees. Each set will uphold Webuy’s high standards of quality at affordable prices.
Vincent Xue Bin, Chief Executive Officer and Co-Founder of Webuy, stated, “We are extremely pleased with the overwhelming customer response to the Plum Wine Gift set, and look forward to rolling out additional proprietary products within the Sing Select gift series through our established distribution channels. We are committed to offering our customers the highest quality brands across Southeast Asia and worldwide. With heightened consumer interest in premium local products, we are intent on rapidly expanding our penetration within the $14 billion global gifts retailing market. Overall, we believe our unique social e-commerce platform provides us with a distinct competitive advantage that allows us to identify market trends and rapidly introduce our own proprietary, high-margin products to the widest possible audience through our efficient group leader sales model,” concluded Mr. Xue.
About Webuy Global Ltd
Webuy Global Ltd (Nasdaq: WBUY) is an innovative, technology-focused company with a goal of building the most trusted retail brand and advanced e-commerce platform in Southeast Asia, designed to leverage data in order to provide a community-driven experience for consumers. The Company's unique 'group buy' business model is set to revolutionize traditional shopping practices, by offering substantial cost savings to customers through an efficient purchasing model and community-centric approach. Akin to group purchases and bulk orders, this approach simplifies the process for customers, eliminating the need for individual bulk purchases. Furthermore, the Company’s business model streamlines the traditional supply chain by minimizing the involvement of intermediaries, thereby offering a more direct "farm-to-table" supply model. The Company’s vision is to enable the ten million families in Southeast Asia to live a healthier, higher-quality lifestyle. Additional information about the Company is available at http://webuy.global/
Forward-Looking Statements
This press release contains forward-looking statements regarding the Company’s current expectations. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties are described more fully in the section captioned "Risk Factors" in the Company’s registration statement on Form F-1 related to the public offering (SEC File No. File No. 333-271604) and annual report on Form 20-F. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.
Contact: Crescendo Communications, LLC Tel: 212-671-1020 Email: wbuy@crescendo-ir.com
