Momentum Works

🌍First: overtaking Foodpanda in Hong Kong, what's next for Meituan?  Earlier in September, Meituan went live in Saudi Arabia under its global brand, Keeta. It was previously highly successful in Hong Kong, where it quickly overtook established players like Foodpanda to become the market leader in order volume. This was attributed to its aggressive promotions and a focus on low Average Order Value (AOV) meals. Meituan's next step is entering the promising but complex Saudi Arabian landscape for food delivery. With unique culture and operational dynamics, the big question is: Can Meituan replicate its success in Saudi Arabia? 🤔 Let us know what you think in the comments! Meanwhile, check out our latest podcast episode to hear more about Meituan's global expansion strategy and what lies ahead: https://lnkd.in/gP9BGwrw

We have concluded Momentum Works' 6th open immersion, focusing on China's dynamic ecommerce and live commerce ecosystem which thrives on: Quality, Selection, Speed, Savings, and Fun. We take for granted the parties in the ecosystem – Platforms, Brands, MCNs, packaging, logistics, payment and AI that support the experience. ✨ Amid 11.11 preparations, over 7 leading companies and 30 key decision-makers still made time for us, sharing their expertise and strategies: ✨ TopviewAI – The  leading AI technology and insights on human + AI virtual host trends, technology landscape (Thank you Jensen Wu for flying back to be with us and sharing how human + AI can increase GMV)   ✨ Befriends (交个朋友)- Top 3 live commerce MCNs in China, with more than US$2bil in GMV and a charismatic and unfortunate founder Luo Yonghao (罗永浩)    ✨ Wangyuan Packaging-  One of the largest packaging company in Yiwu, produces more than 10 million packages a day (spoilers: they help some of the largest ecommece companies reduce cost and waste) ✨ Sto Express Co.,Ltd.–  Key logistics provider for ecommerce with one of the most advanced automatic sorting facilities in China (read: they sort 6 mil packages a day!); ✨ LAZBAO Group : Haichuan (Hanson) Hu shared candid insights of the top cross border enabler from China to Southeast Asia!   ✨ Cainiao Group: Chuanfei (Kevin) Xing for taking us around the innovation lab and hosting us! ✨ Incapital VC Wayne Luo and Jim Jiang sharing experiences of China’s live commerce companies; ✨ Weinian – MCN which managed Chinese online celebrity Li Ziqi, that pivoted into the most famous stinky snail rice noodles.    ✨ Yowant - One of the top three MCNs in China, with X27 Theme park As these companies are looking to expand globally, the curiosity from businesses worldwide to learn from China's success is immense. Momentum Works' immersion program fosters long-term partnerships, providing firsthand insights into the strategies driving success. Together with participants from Amazon, Ho Chi Minh City Department of Industry and Trade, METUB, HaruPlate, WELLINGS PHARMACY SDN. BHD, Locad and Etaily, Manne & Co Pte Ltd we shared our stories, discussed opportunities and explored ways to grow our respective businesses, and made friends. Kudos to Abhi Sahai, Sundeep Kumar, John Katsavrias, Constantin Robertz, Zahid Ahmad, Kishore Thota, John Katsavrias, Choon Leng Mah, Irvin Tan, Shiqin Chen, Tianshu, Alexander F., Keith Kang, Nhi Nguyen, Tram, Phương, and Hung, rajesh ghosh 梁珏, JAY ZHOU for all the curiosity, fun and good sports following Sabrina’s instructions along the way. 🤣 We are planning our 7th Open enrolment ecommerce immersion in Mar 2025. Reach out to us at hello@mworks.asia to find out more. Another great job by the MW: Jianggan Li, Yorlin Ng, Sabrina Chong, WeiHan Chen, Elody Yang, Phyllis Pe, TENG IAN WONG, Enzo Ding, Joshua G. Super proud of all of you!

 Is ByteDance Reworking Its Ecommerce Strategy? 🛒 TikTok Shop’s push for profitability in Southeast Asia surprised many. After reducing subsidies and raising commissions, we expected an aggressive comeback. But it’s now Q4 of 2024, and the growth momentum hasn’t returned. 🤔 Meanwhile, competitors like Shopee have surged, and ByteDance is feeling pressure from Pinduoduo’s low-cost advantage and Meituan’s dominance in local services. Could ByteDance be preparing to rethink its ecommerce approach?🧐 Read more on our thoughts here: https://lnkd.in/gUwJ4vJj #ByteDance #Ecommerce #TikTokShop #DigitalStrategy #SoutheastAsia

Have you heard of the "Disneyland of Chinese Cuisine"?  🍜✨ Meet Wenheyou (文和友), a six-story culinary marvel in Changsha, China, that serves over 40,000 diners a day. Created upon a concept, it’s an immersive journey through old Changsha’s streets, with vintage decor, retro signboards, and nostalgia at every corner. 🏮 As a cultural icon and a must-visit tourist destination, Wenheyou sets the standard for experience-driven dining in China’s fast-evolving F&B scene. But how does it keep up with the demands of serving tens of thousands daily while maintaining its unique charm? 🧐 🎙️ Tune in to the latest episode of The Impulso Podcast as we explore the dining marvel: https://lnkd.in/g8NWtBqT

🚀 Temu Expands in Southeast Asia: Now Live in Vietnam and Brunei! 🌏 Temu continues its rapid growth in the region, officially launching in Vietnam and Brunei, bringing the total number of Southeast Asian markets it serves to five. Temu now operates in 82 countries and territories worldwide. 🌐 🧐 The initial version of Temu’s Vietnam site is still a work in progress, with the site currently only available in English, supports credit card payments only, and integrates just two logistics partners – Ninja Van and Best Express. But with Vietnam's status as the fastest-growing ecommerce market in 2023, it’s likely Temu will ramp up its efforts soon to cater to local needs. 🚚 Interestingly, Best Express – once a major player in China’s logistics scene – is one of the launch partners. Since pivoting to overseas expansion, it has made a strong mark in Vietnam, ranking among the top ecommerce logistics providers in the country. Looking ahead, all eyes are on Temu’s next moves. Read more on our thoughts here: https://lnkd.in/gpbWRD9x

🚀 H&M Opens Flagship Store on Pinduoduo – What’s Next? 🛍️ H&M just made a bold move by launching a flagship store on Pinduoduo, stepping into a marketplace traditionally known for budget-friendly products. But why now? 🤔 📉 With H&M’s operating margin dropping and intense competition brewing in China’s fast fashion market, the brand is looking for ways to turn the tide. Enter Pinduoduo – with 900 million users and initiatives like the “10 billion RMB subsidies”, this platform could be the boost H&M needs to hit those year-end targets. 🧐 But the journey ahead won’t be easy. H&M’s recent results show that the brand has a long road to profitability, especially as its live commerce on Douyin and store count in China show sluggish performance. Tapping into Pinduoduo’s massive user base may be a strategic move, but can it help H&M break through its downward trend and regain momentum? Read more on our thoughts here: https://lnkd.in/d2VSxXKa

In 2013, Easy Taxi, a Rocket Internet company, was built from the ground up in Southeast Asia by Jianggan Li, Blake Larson, and Alexander Lê. With little more than ambition and determination, they tackled product, operations, and marketing challenges—learning as they went and forging strong bonds through the process. Since then, their paths have diverged. Blake led Lalamove’s global expansion, Alex ventured into multiple businesses across Southeast Asia, and Jianggan founded Momentum Works. Their candid conversation is now available in three episodes on the Impulso Podcast - where they share a trove of information they have learnt over the years and through their own entrepreneurial journeys: 🎧 E91: Founders walk a lonely road - https://lnkd.in/gcir2_7d 🎧 E92: Impact of Rocket Internet in fragmented markets - https://lnkd.in/gHzYw2UT 🎧 E93: Life after Rocket Internet - https://lnkd.in/gUPcYMJh

Did you know: A cup of Chagee's iconic Jasmine Green milk tea has 3 times the amount of caffeine as a can of redbull? ⚡ This week, we hosted our 6th Sip, Innovate, Repeat event ☕ in partnership with INSEAD, welcoming Executive MBA participants from the Indian School of Business. It was an exciting two-day journey into the world of coffee 🌍, where we shared key industry insights (and fun ones like the one above) and visited various coffee shops to see how different chains operate. A perfect blend of learning and hands-on experience 👩🏫🍽—thank you to everyone who participated! A special thank you to Mable Wang and Nigel Choy from Insead for working with us to ensure the programme was fun and ran smooth!

They walk a lonely road... as founders🚶♂️ We sat down with two trailblazers—Blake Larson, Ex-Global Managing Director at Lalamove, and Alexander Lê, Ex-Managing Director at Rocket Internet—to explore the untold stories behind their leadership journeys. Together with Jianggan Li, the three former Rocket Internet pioneers reflect on the highs, lows, and personal challenges faced in the dynamic world of startups. From leadership lessons to the stark contrasts between creators and managers, they share invaluable insights for aspiring entrepreneurs. Key Topics Covered: 💡 What makes a great founder 🤝 Navigating the lonely path of leadership 🔨 The difference between builders and managers 🔥 Early struggles of launching Easy Taxi If you’ve ever wondered what it really takes to build something great from the ground up—this series of 3 episodes is a must watch. Tune in here: https://lnkd.in/gCKrQhii

On 12th September, we held an event with Lark at W Singapore - Sentosa Cove. Special thanks to Maika Higashi Xueni Chua Swathi Bhat from Lark for making it all happen with us. The event, titled "Crystal ball into 2025" dove deep into how tech is set to evolve and where Singapore fits in all of this. During the event, we had great insights from Jianggan Li and Mark Dembitz on topics like: 🧑💻 Tech investment 🌎 Macro trends to watch 🛫 Expanding into new markets ✏️ Pitfalls and lessons learnt ✅ How companies can leverage tools like Lark to streamline processes We would also like to thank everyone from the crowd who answered questions spontaneously and made the event lively and insightful! Stay tuned for more events!