SINGAPORE: According to PRNewswire, on Monday, Nov 20, a leader in service robotics and smart home appliances, ECOVACS Group, inaugurates a new office in Singapore, marking a significant turning point in its global operations. The objective is to increase the company’s global and Southeast Asian presence.
Mr David Cheng Qian, Vice Chairman of ECOVACS Group and CEO of ECOVACS ROBOTICS, said, “Singapore plays a pivotal role in the Southeast Asian region as well as in the global market. As a commercial hub for our Southeast Asian market, our new office in Singapore will further ECOVACS’ global business development in the long run. We will continue to develop innovative technologies and products that cater to both regional and international markets.”
This growth is consistent with ECOVACS’ commitment to globalization, which is evident in its multi-brand strategy, including ECOVACS ROBOTICS and TINECO. The third quarter of 2023 saw a 47% and 53% increase in overseas revenue for ECOVACS ROBOTICS and TINECO, reflecting the company’s global growth.
The booming smart home appliance market further validates the decision to establish an office in Singapore in the Asia-Pacific (APAC) region, projected to grow at a CAGR of 22.0% between 2023 and 2030. Since entering the Southeast Asian market in 2017, ECOVACS has consistently outperformed competitors, especially in key markets like Singapore.
ECOVACS Group attributes its success to unwavering efforts in user-centric Research and Development (R&D) since its founding in 1998. Committed to delivering user-friendly products, the group has become a household name globally.
One of ECOVACS’ recent innovations is the DEEBOT X2 robotic vacuum cleaner, acclaimed for redefining shape, design, and machine vision solutions, offering users a thorough and effective cleaning experience. As a leader in service robotics, ECOVACS ROBOTICS boasts a diverse product portfolio, including robotic vacuum cleaners, window cleaners, air purification devices, and lawnmowers.
TINECO manufactures premium smart household appliances and has consistently introduced new product categories. Innovations such as a smart wet-and-dry vacuum cleaner and an all-in-one food processor have expanded the range of application scenarios for TINECO’s products.
Beyond product innovation, ECOVACS Group emphasises establishing online and offline channels. Leveraging its experience in Chinese e-commerce, the group collaborates with global platforms like Amazon, Shopee, and Lazada and key local e-commerce channels. This approach has significantly contributed to its market share in Singapore, Vietnam, India, and Indonesia.
With products exported to over 160 countries and regions, serving more than 50 million households, ECOVACS Group’s international business network spans key markets in the EU, the U.S., and the Asia-Pacific. /TISG