AuMake says online sales growing
Online sales now make up 30 per cent of AuMake’s total sales, and they are continuing to grow.
The daigou business announced its unaudited FY19 earnings in an investor presentation on Thursday, reporting an estimated $40-45 million in revenue for the year. That’s more than double the revenue it generated in FY18 of $21 million.
The company said it is experiencing strong trading conditions even in the traditional low season of June and is anticipating significant growth from its recent Broadway acquisition, which will be effective next month. AuMake expects own-brand sales through the Broadway channel to reach $15 million to $20 million in FY20.
In the presentation, AuMake said most of its online sales come from the Chinese social media app, WeChat. In April, the company reported that its online customer database had grown more than six times over from 20,000 in Q3 FY18 to 130,000 in Q3 FY19.
It continues to invest heavily in its online infrastructure to maintain this growth. This includes a larger online customer service team, improvements to its various online sales platforms, such as WeChat and JD.com, and a new packaging facility.