Tag: Press Release

Company Update, Press Release

aCommerce Group appoints Three Independent Non-Executive Directors

aCommerce, Southeast Asia’s leading end-to-end e-commerce platform and solutions provider, announces the appointment of three new independent non-executive members to its Board of Directors: Oranuch Apisaksirikul, Kesara Manchusree, and Natasak Rodjanapiches. Their experience and operational backgrounds as CEO and Managing Director at some of Thailand’s leading blue-chip companies in industries such as consulting, marketing, finance, and technology will provide aCommerce with deep insights and local wisdom for building a long-lasting and innovative business.

The appointed independent members will play a crucial role in constituting the central committees of the company that make up its governance framework, which in turn drive much of the internal workings, constitution, reporting, etc. As members of the Board of Directors, they will also be involved in all material operational and strategic issues going forward as the company grows its geographical footprint and enterprise services such as SaaS.

“We are excited to welcome Oranuch, Kesara, and Natasak to our Board of Directors. All of them are highly accomplished individuals who have strong records in successfully navigating today’s rapidly changing environment with creativity, strong intuition, and business understanding, leading to continuous value creation,” said Paul Srivorakul, aCommerce’s Group CEO. “Their previous leadership roles in public and global companies will give our team access to a wealth of experience, learnings, tactics, and strategies in winning the market,” he added.

Oranuch Apisaksirikul joins as Chairperson of the Board of Directors and brings extensive experience serving on the boards of public and private companies, enhancing stakeholder value, helping to usher in successful IPOs, aiding in mergers acquisitions, and executive leadership mentoring. She possesses more than 40 years of experience in the bank, finance, and securities businesses. In the past, she used to serve as Chairperson of the Executive Board of TISCO Financial Group PLC. and was a trusted advisor to several companies, including TISCO Bank, TISCO Securities, Amata VN PLC, SHIFT Challenge Fund Investment Committee, The United Nations Capital Development Fund: UNCDF, and many more.

“aCommerce provides a real value to global and regional companies by simplifying a highly complex and difficult industry like e-commerce and centralizing it all for a very fragmented region like Southeast Asia,” said Oranuch Apisaksirikul.

Kesara Manchusree has worked for decades in the financial and capital markets, covering equity, bond, derivatives, and foreign exchange. She became the President of the Stock Exchange of Thailand in 2014.  Kesara was the first Managing Director of Thailand Futures Exchange PCL (TFEX), Thailand’s first financial derivatives exchange. Currently, Kesara is serving on the council committee of Thammasat University and Thammasat Economics Association. She has also been appointed as the Chairman and board director of listed companies, social enterprises, with a solid determination to promote ESG and enhance corporate value through sustainable development strategy to benefit society and the country.

“The Stock Exchange of Thailand consists of mostly traditional companies in old-world industries, and aCommerce’s IPO will start the next era of digital-first and technology companies in the new economy,” said Kesara Manchusree.

Natasak Rodjanapiches is a business leader with nearly three decades in senior executive leadership roles in global enterprise technology and professional services companies. He previously worked at Oracle where he was the regional managing director for ASEAN. Natasak currently serves as the Independent Director at CIMB Thai Public Company Limited and is also the Vice-Chairman for the Digital Economy Subcommittee at The Board Of Trade of Thailand.

“E-commerce is the future of retail and aCommerce’s business models will accelerate the digital transformation for several companies and industries, creating critical digital jobs, and opening new online business opportunities for Thailand’s new economy,” said Natasak Rodjanapiches.

The high-profile Directors join at an exciting time for aCommerce as it moves into the next phase of its corporate lifecycle and benefits from the changes brought about by COVID-19.  The new board members will help augment aCommerce’s governance framework and corporate infrastructure to ensure it is a regional leader for decades to come and enable it to maximize the opportunities brought about by a structurally changing market landscape.  The company looks forward to growing aCommerce onwards into a national champion that can also benefit the Thai and ASEAN e-commerce ecosystem and its economy and consumers.


About aCommerce

Headquartered in Thailand, aCommerce is the largest e-commerce enablement platform and solutions provider in Southeast Asia with operations also in Singapore, Malaysia, Indonesia, and the Philippines. Fortune 500 clients such as Samsung, Unilever, Nestlé, L’Oréal, Philips, Adidas, Mars, and many more trust us as their partners for their digital commerce journeys. Founded in June 2013, aCommerce provides the full end-to-end suite of e-commerce technologies and solutions including Omni-channel retail, performance marketing, unified data analytics, channel management, webstore development and operations, content production, warehousing, order fulfillment, delivery, and localized customer care. Coupled with our EcommerceIQ software suite which strengthens, connects, and unifies all e-commerce data under one end-to-end cloud platform, we enable brands and retailers to connect, engage and transact with their customers anywhere, any time, and in any way. For more information, please visit www.acommerce.asia.

Company Update, Ecommerce Insights, Press Release


By Paul Srivorakul

Online shopping was growing steadily in Thailand even before the coronavirus pandemic began. But 2020 saw a massive increase in people ordering everything from groceries to clothing to household supplies online. Although consumer habits are complex and the demand for certain goods shifted with the pandemic, the concerns about shopping in person and the high percentage of people with access to the internet created a significant growth opportunity for online retailers.

As a result, the E-commerce industry demonstrated a tremendous increase in terms of new customer acquisition at around 50% for 2020 vs the previous year. From the beginning of the pandemic, aCommerce saw an approximate 120% increase in new “first-time” customers being added in Q2 2020 compared to the previous year. According to the “eConomy SEA 2020” report by Google, Temasek, and Bain & Company, online shopping in Thailand registered a 40% growth in usage after 2020 lockdowns compared with the pre-COVID numbers. The report also revised its forecast of Thai 2025 Ecommerce sales up from US$18bn to US$24bn – the most significant increase among the ASEAN countries.

Good for brands

Brands that might have been previously cautious of cannibalizing their offline sales by moving entirely online had to re-evaluate their assumptions after physical shutdowns. With consumer demand surging online, companies pivoted to satisfying Ecommerce orders through “direct-to-consumer channels” and invested heavily in branded websites, social commerce, etc. At aCommerce, our sales by brands on direct-to-consumer channels grew over 110% in 2020, substantially faster than on marketplaces (for example, on Shopee and Lazada).

But paradoxically, quarantines have helped alleviate some reservations which consumers may have had previously about shopping online. Moreover, research shows that many people are reluctant to go back to old purchasing habits and say that they wouldn’t feel comfortable shopping in a mall in the near future. This gives companies certain confidence that investment in online channels has long-term prospect potential.

Good for consumers

People who are more motivated than ever to stay home and shop online created the ideal market conditions to fast-track, test, and launch new Ecommerce experiences. With this massive shift to online channels, Thai consumers can now enjoy a better selection of products from all categories — both domestic and international. More goods than ever are available to people in Thailand upcountry and remote locations that offline channels might not serve.

Consumers can now also benefit from more cost-effective access to products and more targeted campaigns, loyalty programs, and discounts that resonate with them. More available data on consumer preferences allows companies to respond to the demand faster and better. All these digital solutions to marketing challenges are cheaper to execute than offline initiatives. Besides, the Ecommerce economy can be scaled up, with the cost-saving eventually brought to consumers.

Good for the economy

Anything that benefits consumers and companies leads to economic growth. Ecommerce development is no exception — it attracts investments that support the expansion of the Thai digital infrastructure. It also reallocates financial resources to more innovative sectors, creating more well-paid jobs in digital infrastructure spheres. This creates a self-reproducing cycle of economic development — the more knowledgeable and skilled people become, the more efficient and productive they get. An innovative and creative workforce with digital expertise will, in turn, push the “new economy” towards lower unemployment rates and higher salaries. And we are not talking only about employment for content creators, graphic designers, or photographers — there are also new jobs in logistics, delivery, and customer service.

Ecommerce has the potential to overcome market barriers and connect consumers and businesses. According to The World Bank, Ecommerce can create jobs directly and through logistics services and other parts of the broader E-commerce ecosystem. It also helps in improving household consumption and reduces inequality by bringing to people in rural areas the convenience, variety, and low prices enjoyed by urban dwellers, and contributes to economic growth by lowering the asymmetry of information and increasing economic efficiency. For example, China, where rural villages are heavily engaged in E-commerce, is an excellent example of how developing countries can harness digital technology to create jobs and improve people’s lives. China is the world’s leader in terms of E-commerce penetration and sophistication of digital infrastructure, and its experience confirms that there is a positive correlation between GDP growth and E-commerce growth.

Making it all work

At aCommerce, we specialize in supporting Thai companies (such as AIS, DoHome, TheMallGroup, Osotpa, Naraya, DSG, and GQ) and homegrown businesses, helping them reach more consumers and flourish. As we do this we are also contributing to the Thai economy both directly and indirectly. Our company employs over 500 people in Thailand, with 30% being highly skilled in IT and engineering. And our staff is only getting better because we believe in actively investing in our people and providing them with further training opportunities to grow with us.

Although it is impossible to predict the future of any industry with absolute certainty, we are optimistic about the future of Ecommerce in Thailand. This industry is one of the more resilient locally and globally. It’s also being relied upon more, rather than less, during the current crisis. As such, E-commerce plays a vital role in bolstering the Thai economy, which has been hit so severely by the pandemic, particularly in the tourism and the retail sector.

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aCommerce Sales Growth across the region
Company Update, Press Release

aCommerce Marks the One-Year Anniversary of Its “aCommerce 2.0” Strategic Plan, Announced COVID-19 Impact and Key Personnel Appointment

Successful execution has cemented the company’s position as an industry leader that is driving the development of Southeast Asia’s Ecommerce ecosystem

The company also strengthens leadership team to drive long-term growth and provides key operational updates

One year after its implementation, leading brand Ecommerce enabler aCommerce announced an update on its “aCommerce 2.0” strategic plan, the impact of the COVID-19 pandemic on its business, and key personnel appointments. Highlights include:

  • Group profitability achieved ahead of schedule through efficient cost management and realizing operating leverage off strong revenue growth;
  • Achieved an increase of over 120% in average revenue per client since Q1 2019 by remaining focused on portfolio of core clients, including Samsung, Unilever, Nestlé, L’Oréal, Philips, Adidas and Mars;
  • Supported enormous demand for online distribution through direct-to-customer channels as the COVID-19 pandemic accelerated the migration of consumer spending to online platforms; and
  • Deepened its senior management team with the addition of proven executives who will help lead “aCommerce 2.0” into its next phase of growth.

Update on “aCommerce 2.0” and path to profitability

The Company’s successful execution of its “aCommerce 2.0” plan over the past 12 months cemented its position as an industry leader that will continue to help develop Southeast Asia’s Ecommerce ecosystem for decades to come. As part of the plan, aCommerce has strategically invested in its core brand Ecommerce technology & services, driven protocols, enhanced its end-to-end Ecommerce platform, outsourced non-core operations, and scaled back less economical contracts and business areas. As a result, the Company has far exceeded all internal targets of its “aCommerce 2.0” strategy, including achieving group profitability ahead of schedule.

Key elements of the plan include ensuring the Company:

  • Prioritizes and enhances end-to-end Ecommerce solutions for enterprise brand clients to build and strengthens long-term relationships;
  • Focuses on aCommerce’s existing core markets;
  • Transitions away from providing piecemeal or single service solutions to clients that are commoditized and where other service provider partners are already in place; and
  • Achieves group profitability in 2020 by growing profitable core brand Ecommerce end-to-end business and streamlining operations.

“Our ‘aCommerce 2.0’ plan enabled us to hone our focus to approximately 160 of our most valuable clients, significantly increasing our profitability and enabling us to grow our average revenue per client by over 120% since the first quarter of 2019. We are especially pleased to deliver strong like-for-like organic revenue growth of over 40% year-on-year from our existing long-term clients. We achieved this by both increasing volumes and average order values.  Our average order value is growing at a rate of 15% year-on-year and currently stands at almost US$38. This, combined with our disciplined cost and working capital management, has enabled the Company to get close to cash flow positive. We are starting to look at long term shareholder options for the future,” said Piers Bennett, Co-Founder and Group CFO.

Impact of COVID-19

The outbreak of the pandemic in early 2020 presented unprecedented challenges for businesses across the globe, fundamentally changing corporate operations and consumer behavior. The pandemic is accelerating the migration of consumer spending to online platforms and is encouraging a more rapid digital transformation within companies themselves. Brands are fully embracing and prioritizing omni-channel Ecommerce over traditional offline distribution channels.  

This is a transformative time for the provision of all services digitally and Ecommerce in particular. As an Ecommerce enabler, aCommerce, with its integrated technology capabilities and ability to provide end-to-end data to brand partners, has managed to successfully navigate this new landscape and accelerate its “aCommerce 2.0” strategic plan.

“We have seen a very rapid and material change to our business resulting from COVID-19. Certain segments, such as consumer staples and healthcare, are seeing year-on-year growth rates well into the triple digits, however non-discretionary luxury & fashion and consumer electronics segments are also seeing year-on-year growth of up to 40% as brands look to rapidly prioritize online distribution in the face of declining traditional offline. We have also seen an increased share of sales volumes from direct-to-customer channels like social platforms, B2B, as well as company branded web-stores, or “brand.com”, which we operate – currently as much as 50% of sales, from around 20% to 30% a year ago. The decisive actions we took last year have yielded higher levels of operating leverage from our incremental revenues, which has rapidly brought forward our group profitability target,” said Paul Srivorakul, Co-Founder and Group CEO.

Key personnel appointments

aCommerce Senior Leadership
aCommerce Group Executives. Front left-to-right: Paul Srivorakul (Co-Founder & Group CEO), Phensiri Sathianvongnusar (Group CBO);
middle left-to-right: Luca Altomare (Group COO), Tom Srivorakul (Co-Founder & Group CRO), Shishir Bharti (Group CPeO);
back left-to-right: Graeme Kingshott (Group Finance Director), Peter Kopitz (Co-Founder & Group CCO), Mark Rachelski (Group CTO), Piers Bennett (Co-Founder & Group CFO)

The Company also announced several additions to the leadership team as it positions aCommerce for its next phase of growth:

  • Mr. Luca Altomare has been appointed Group Chief Operating Officer (“COO”). In this role, Luca will be responsible for managing aCommerce country heads and driving operational excellence. He will play an integral role in driving economically sustainable growth and long-term margin growth. He previously served as SVP of distribution for Southeast Asia at Li & Fung Group and worked at specialist consulting firm Value Partners. Luca will report to Paul Srivorakul.
  • Mr. Peter Kopitz, who is a Co-Founder and former COO, has been appointed Group Chief Commercial Officer (“CCO”). In this new role, Peter will leverage his extensive network and relationships across the region with brands and key channel partners.  
  • Ms. Phensiri Sathianvongnusar has been appointed Chief Business Officer (“CBO”). Phensiri has been instrumental in growing aCommerce’s Thailand business and driving operational and commercial initiatives across the region. She will be retaining her role as CEO of Thailand in addition to her new responsibilities and work with Luca to drive best practices across the Group.
  • Mr. Graeme Kingshott has been appointed Group Finance Director. Graeme has served as a CFO and Finance Director for companies around the world.  Reporting to Co-Founder and CFO Mr. Piers Bennett, Graeme will assist in maintaining aCommerce’s global best-in-class working capital management and will ensure compliance with the most robust standards of protocols and reporting.

“We are delighted to welcome a seasoned senior business executive like Luca and I look forward to working with him to achieve our goal of becoming the leading high growth and cash flow generative brand Ecommerce enabler in the region. The new appointments of Peter, Phensiri and Graeme are indicative of our ability to recruit, retain and develop a strong leadership team. We have assembled a top-flight management team to continue the strong execution of ‘aCommerce 2.0’ and take us to the next level, creating lasting value for our partners, clients and employees,” concluded Mr. Srivorakul.

Company Update, Press Release

aCommerce raises US$15m from Indies Capital Partners

Bangkok, 14 January 2020: Leading ecommerce brand enabler aCommerce today announced the closing of a US$15 million funding round from Indies Capital Partners.

The US$15 million funding from Indies Capital Partners follows a US$10 million funding round from existing shareholders in July 2019. That round was subsequently upsized, signaling investors’ continued confidence and support in the Company’s strategy and vision.

This latest funding round also builds on aCommerce’s momentum following its announced “aCommerce 2.0” initiative to deliver greater value to enterprise brand clients. 

“Today’s announcement is another terrific example of a high-caliber, institutional-grade investor throwing their support behind aCommerce and our mission to become Southeast Asia’s leading ecommerce enabler company.  This is truly a milestone for aCommerce, and we look forward to working with the Indies team and benefiting from their value-add and expertise, especially in markets like Indonesia,” said Paul Srivorakul, aCommerce Co-Founder and Group CEO.

“We appreciate that aCommerce is putting itself ahead of the curve in terms of driving its business to cash flow generation, and only pursuing economically sustainable growth. It is a rare combination of a technology company of scale in Southeast Asia on the path to profitability, whilst still exhibiting strong growth prospects,” said Harold Ong, Managing Director of Indies Capital Partners.

The funding round follows the Company’s announced “aCommerce 2.0” strategic plan in July 2019 to (i) better support global enterprise brands; (ii) recruit, develop and retain key talent; (iii) focus on core markets; and (iv) achieve group profitability. The company is pleased to announce solid progress on each of these fronts.

“With the upsized July 2019 financing from existing shareholders, and this US$15 million funding from Indies Capital Partners, we are now fully-funded to continue executing on our ‘2.0 strategy’ to reach group profitability and become cash-flow positive in 2020” added Paul Srivorakul.  


About Indies

Indies Capital Partners is an alternative asset manager focusing on private credit and equity in Southeast Asia.  Established in 2009, it has invested more than US$1 billion across multiple strategies and on behalf of institutional and private investors.  Indies holds a Capital Markets Services license from the Monetary Authority of Singapore. For more information, please visit www.indiescp.com

About aCommerce

Headquartered in Thailand, aCommerce is the largest brand ecommerce enabler in Southeast Asia for global brand clients such as Samsung, Unilever, Nestlé, L’Oréal, Philips, Adidas, Mars and many more.  Founded in June 2013, aCommerce provides the full end-to-end suite of Ecommerce technologies and solutions including omni-channel retail, performance marketing, channel management, webstore design and operations, content production, order fulfillment and warehousing, delivery and logistics and localized customer care.  For more information, please visit www.acommerce.asia.

Press Contact: [email protected]

Company Update, Press Release

KKR-Backed Emerald Media Leads $65 Million Series B in aCommerce to Drive Southeast Asia’s Retail and Ecommerce Ecosystem Forward

The region’s leading ecommerce enabler will continue to build successful multi-channel retail, distribution and marketing strategies for brands such as Samsung, Unilever, Nestlé, L’Oreal, Philips and Mars.

Bangkok, 20 November 2017 – aCommerce Co. Ltd. announced today that it has closed a US$65 million Series B funding round. The company is Southeast Asia’s leading ecommerce enabler in four markets that enables over 260 brand clients such as Samsung, Unilever, Nestlé, L’Oreal, Philips and Mars to sell to the world’s fastest-growing consumer markets.Read more

Company Update, Press Release

Google Selects aCommerce to Grow Ecommerce of Small Businesses in SEA


BANGKOK – April 10, 2015 – aCommerce announced today that it has been selected as a Google AdWords Premier SMB Partner, enabling aCommerce to offer online marketing solutions via the Google AdWords platform to the fast-growing small and medium-sized business (SMB) market across Southeast Asia. The Google AdWords Premier SMB Partner program is a prestigious program offering extensive SMB resources such as dedicated account managers, training programs, early access to new features like Google Product Listing Ads, AdWords API access, and Google Sponsored Promotions – all exclusive resources helping SMBs achieve a competitive advantage.Read more