Companies

Unicommerce sets up operation in Saudi Arabia to grow international presence

Prashasti Awasthi Mumbai | Updated on January 14, 2021

Unicommerce, Indian e-commerce focused SaaS platform, is now further strengthening its foothold in the West Asian market. Unicommerce is going to set up its operations in Saudi Arabia, according to the official release.

This comes as the company aims to increase its international presence and double its contribution to the overall company revenue by next year.

Unicommerce is eyeing on international business as it has announced setting up South-East Asia operations last month and is consistently growing its customer base in Vietnam and the Philippines.

According to Unicommerce, post commencement of operations in West Asia (Dubai) in 2018, Saudi Arabia is the ideal choice for the company considering its rich economy and its growing internet user base and e-commerce market growth.

Unicommerce recently onboarded companies like Advanced ICT Innovation Group and Safebox in Saudi Arabia and intends to collaborate with other leading brands.

Also read: Sales soar for SaaS providers on Covid booster

According to Statista, the e-commerce market in Saudi Arabia is expected to show an annual growth rate (CAGR 2020-2025) of 6.6 per cent, resulting in a projected market volume of US $8,697m by 2025. While user penetration is expected to hit 92.5 per cent by 2025. These figures have encouraged Unicommerce to tap into the Saudi Arabia market.

Speaking on the expansion, Kapil Makhija, CEO, Unicommerce said in the official release: “With a strong foothold in India, we are happy to expand further in West Asia which is witnessing a similar growth pattern like India.”

He added, “West Asia and South-East Asia are the two important regions for Unicommerce in our international expansion strategy and will be key to our overall growth trajectory in the e-commerce segment. We will be hiring more people in the region to support our growth plans.”

Unicommerce is planning to deepen its presence in West Asia and South-east Asia with almost 300 per cent growth in its international customer base, it noted.

Published on January 14, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor