Young innovators are redefining the Asian retail industry

The 2021 Asia 30 Under 30 Retail and E-Commerce list showcases young innovators disrupting the traditional retail industry. Prominent among these pioneers is Yoomee Hwang, founder of YOLO, a digital marketplace for goods sourced from around the world.

While studying at Yonsei University, Hwang discovered the potential of selling unique, travel-useful items acquired during her travels. These insights led her to the vibrant e-commerce arena and ultimately spurred the creation of YOLO. However, travel restrictions related to the Covid-19 pandemic pose a challenge to Hwang’s business model.

In response to these challenges, Hwang developed the alternative e-commerce platform Croket in 2020. Croket currently offers almost 700,000 products from 25,000 suppliers in 89 countries. Undeterred by the pandemic, Hwang now wants to expand YOLO beyond South Korea and enter the second-hand goods market.

Other young entrepreneurs making waves in the industry include Bow’s Mandy Chan and the team behind LetsDressUp, a platform that connects Indian weavers with clients from around the world.

A youthful innovation transforming Asian retail

Similarly, Abivin’s co-founders have made significant inroads into the logistics and supply chain industry. It is also worth mentioning Akarsh Sanghi from Graviky Labs, who brilliantly transforms soot pollution into high-quality ink.

Fellow honorees Rizky Arief Dwi Prakoso and Karina Innadindya Amron Naibaho have conveniently created a platform for homegrown Indonesian perfumes. Chia Pei Qi and Kenneth Kuan introduced high-end watch straps, and Vanshika Kaji moved from women’s professional attire to fashionable personal protective equipment. Another duo, Scott Brown and Elena Little, have innovated in sustainable fashion, creating significant customer appeal.

In the health and wellness sector, Vaibhav Makhija is making a difference with What’s Up Wellness. This health supplement gummy company aimed at today’s consumer started on a shoestring budget but has since gained significant financial support. Asia’s 30 Under 30 therefore embodies youthful innovation, resilience and success in and beyond retail.