E-commerce platform Aladdin Group returns as tech company

Aladdin Group CEO Eizaz Azhar speaks during a press conference in Kuala Lumpur August 18, 2020. ― Picture by Ahmad Zamzahuri
Aladdin Group CEO Eizaz Azhar speaks during a press conference in Kuala Lumpur August 18, 2020. ― Picture by Ahmad Zamzahuri

PETALING JAYA, Aug 18 — Former e-commerce platform Aladdin Group has officially announced its rebranding today into a tech company after nearly a year of operational hiatus and restructuring.

The group, which focuses on the halal sector and Muslim-friendly segment, now takes the approach of leveraging on Malaysian talents and pairing with a strategic partner in China that specialises in artificial intelligence, e-commerce, and social commerce.

Its chief executive officer Eizaz Azhar said the major technological trends in China was a major point for Aladdin to rebrand themselves.

“Now that we are back in the market, there will be many exciting things to happen.

“Our major relaunch will be in the fourth quarter of this year, with strategic partners in nine different countries, and we hope to provide a seamless transition for regional trade and the halal businesses,” he said during the group’s relaunch programme at One World Hotel here.

He said the past decade has seen an industry shift in which seven of the largest companies in the world by market capitalisation are technology companies.

“Out of the seven, five are multi-sided platforms. Additionally, the Covid-19 crisis has led to the rise of platforms which have since become an integral part of our lives.

“We aim to establish a supply chain to over 40 countries and serving a Muslim consumer segment of an estimated 1.45 billion, with a core focus on business-to-business, business-to-consumer, and online-to-offline digital infrastructure for Malaysian small and medium enterprises to easily access new markets,” Eizaz said.

Aladdin’s accomplishments prior to its hiatus and restructuring in early 2019 include a global partnership with English Premier League football club Manchester United in March 2017, and raising nearly US$100 million (RM390 million) in financing in March 2018.

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