Boxed and AEON Sign Definitive Agreement to Expand Partnership, Launch Software & Services in Vietnam
Boxed, Inc. (NYSE: BOXD, BOXD WS) has partnered with AEON CO LTD to launch its e-commerce software platform, Spresso, in Vietnam, following a previous collaboration in Malaysia. This definitive agreement is aimed at enhancing AEON's e-commerce capabilities in Vietnam, after initial discussions began with a Memorandum of Understanding in July. The launch of Spresso technology is expected in the coming months, marking Boxed's first implementation in a non-English market, thus expanding its international presence.
- Expansion of Boxed's partnership with AEON into Vietnam.
- Launch of Spresso technology platform enhances Boxed's international market presence.
- Supports AEON's e-commerce and omnichannel capabilities in a growing economy.
- None.
NEW YORK, Oct. 06, 2022 (GLOBE NEWSWIRE) -- Boxed, Inc. (NYSE:BOXD, BOXD WS) (“Boxed” or the “Company”), an online platform which sells household consumables in bulk and licenses its e-commerce software through its Spresso Software and Services Division, and AEON CO LTD (“AEON”), one of the largest retailers in Asia, today announced a definitive agreement to launch Boxed’s end-to-end software and services platform in the Vietnamese market with AEON’s affiliate, AEON Vietnam Company Limited.
In July, the Companies had signed a Memorandum of Understanding to expand their partnership beyond Malaysia, where AEON is utilizing Boxed’s proprietary e-commerce technology to power its digital capabilities. With the announcement of this definitive agreement, Boxed has officially begun deploying its Spresso technology platform with AEON Vietnam, with an initial launch expected in the coming months. Boxed’s proprietary software and services will be critical in supporting AEON’s initiatives in developing its e-commerce and omnichannel capabilities throughout Vietnam.
“We are excited to build on the execution of our proprietary software & services platform by expanding our partnership with AEON into Vietnam,” said Jared Yaman, Co-founder and COO of Boxed. “This will be our first implementation not in English, further demonstrating our ability to execute in international markets.”
In addition to Malaysia, and now Vietnam, Boxed and AEON will continue to explore partnerships and opportunities throughout Southeast Asia.
“AEON has been a great partner for us in Malaysia, and we are beyond excited to replicate our e-commerce synergy in such a dynamic, growing economy as Vietnam, and potentially other strategic markets in the near future,” said Chieh Huang, CEO of Boxed.
About Boxed
Boxed is an e-commerce retailer and an e-commerce enabler. The Company operates an e-commerce retail service that provides bulk pantry consumables to businesses and household customers, without the requirement of a “big-box” store membership. This service is powered by Spresso (https://www.spresso.com), the Company’s own Software & Service business. From solving challenges with data using machine-learning modules to re-platforming with end-to-end technology, Spresso’s purpose-built storefront, marketplace, analytics, fulfillment, advertising, and robotics technologies enable better business outcomes for e-commerce customers. The Company aspires to make a positive social impact with an emphasis on good Environmental, Social and Governance (“ESG”) practices, and as such, has developed a powerful, unique brand, known for doing right by its customers, employees and society. For more information, please visit investors.boxed.com.
Media Contact
David Taft
Boxed
dave@boxed.com
Investor Contact
Chris Mandeville
ICR
BoxedIR@icrinc.com
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