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HONG KONG, Sept. 27, 2021 /PRNewswire/ -- AlgoGroup, a tech-enabled consumer brands company, today announced the acquisition of Beanie following a fresh round of funding from Requina Capital. The company also invested into two new brands, Beanie for Paws and Padie using its unique consumer-to-manufacturing (C2M) approach to production. The addition of the three brands immediately tripled AlgoGroup's revenue and is expected to further add fuel to AlgoGroup's existing c.20% month-over-month top-line growth.
AlgoGroup's consumer-to-manufacturing (C2M) model leverages consumption data across its internal e-commerce sales channels, plus external digital signals to identify product trends and consumer insights for smarter and faster manufacturing decisions.
Supercharging AlgoGroup's growth in product offering in Southeast Asia, Oceania and North American markets
After acquiring Beanie, an established superfood supplement brand with formidable offline channels, AlgoGroup was able to leverage granular consumption patterns in the pet supplements space to create a spin-off brand Beanie for Paws. Internal consumption data showing consumers' needs for greener and more environmentally-conscious brands also guided AlgoGroup's investment and creation of Padie, a biodegradable female hygiene brand.
The three new brands added to the company's existing portfolio of brands, including premium ethically-sourced UK-made fish-based dog treats brand Woofs and plant-based earth-friendly pet supplies brand Pogi's Pet Supplies.
The expansion also sees the company grow its regional sales footprint, with a target to add distribution channels across Southeast Asia, Oceania and North America by the end of 2021.
AlgoGroup looks to grow its coalition of brands by democratizing e-commerce infrastructure, data-driven insights and its growing distribution ecosystem
Fueled by profitable growth, AlgoGroup is launching a Brand Incubation Program to welcome more brand partners and empower them to scale faster by providing support in e-commerce infrastructure, data-driven insights and a distribution ecosystem. By building an AI-powered software that captures and analyses consumption patterns in real-time, AlgoGroup hopes to shorten the average production cycle to as little as 2 months, significantly enhancing agility in manufacturing. Algo also constantly invests in its distribution ecosystem to elevate brand value of its brands, including co-creating major industry events to help brands raise awareness.
"With our roots in building and operating a collection of e-commerce platforms, AlgoGroup has first-hand access to consumer preferences. This unique access to data and consumer feedback allows us to invest, build or partner and scale emerging concepts that customers love and yet have been overlooked by the traditional players," said Chris Fung, Executive Director of AlgoGroup. "Our goal is to light up the consumer products universe by working with and building a coalition of brands which encapsulate our vision. Our mission is, and always will be, to empower brands and the process of brand building. We are eager to bring more brand concepts into the spotlight."
"We are excited to invest in AlgoGroup, and believe the company is well-positioned to capitalize on its data-driven manufacturing strategy while continuing to expand and diversify into new e-commerce verticals. We look forward to this next chapter of growth with the Algo team," said Sanjiv Garg, Chairman of the Investment Committee at Requina Capital.
About AlgoGroup
AlgoGroup is a tech enabled consumer product company. Algo's mission is to invest, build, or partner with brands, harnessing proprietary e-commerce signals to create top-selling, branded, consumer products. The company currently houses six brands with distribution channels across Asia Pacific and four wholly owned or operated e-commerce platforms.
Website: https://www.algogroup.io
About Requina Capital
Requina Capital, founded in 2012, is a private investment group with an unique model of capital allocation encompassing growth, buyout, buy and build strategies. Headquartered in Hong Kong, with offices in Kuala Lumpur and Los Angeles, Requina Capital's motto, "Action Driven Returns", captures its unique approach to capital allocation using an entrepreneurial mindset to secure the best risk-adjusted returns. Requina's portfolio companies span sectors including: e-commerce, performance marketing and corporate advisory.
Website: https://www.requinacapital.com
LinkedIn: https://www.linkedin.com/company/requina-capital
