How Chinese e-commerce unicorn Jollychic plans to defend its turf in the Middle East
- Chinese e-commerce company Jollychic is looking towards digital payment and other life services as the growth of its Middle East consumer goods business cools
- Since its founding in 2012, Jollychic has grown rapidly to become one of the top e-commerce sites in the Middle East in terms of users
Jollychic, a Chinese e-commerce start-up that has become one of the top players in the Middle East market, plans to replicate China’s all-encompassing online ecosystem in the region, as competition from international and local players heats up.
Founded in 2012 by entrepreneur Aaron Li Haiyan, Jollychic currently has 50 million users, up from 35 million at the end of 2017, with the majority in the Gulf Cooperation Council countries such as Saudi Arabia.
Li, 37, decided to enter the Middle East after analysing and examining over 50 overseas markets and found it the most attractive in terms of growth potential.
Jollychic has recently begun branching out to digital payments and other life services as the growth of its e-commerce business slows. JollyPay, the digital payment platform it developed in 2017, received a license to operate in United Arab Emirates (UAE) on Thursday, according to the company.
Jollychic is seeking to build an ecosystem in the Middle East that covers “not just online shopping but also things like on-demand food delivery, online travel and transportation booking,” said vice-president Dennis Du Minghao in a phone interview with the Post.
