{"id":4025,"date":"2019-11-11T16:02:38","date_gmt":"2019-11-11T08:02:38","guid":{"rendered":"https:\/\/www.brand360.com.my\/?p=4025"},"modified":"2021-03-24T09:32:29","modified_gmt":"2021-03-24T01:32:29","slug":"branding-lessons-asian-unicorns","status":"publish","type":"post","link":"https:\/\/www.brand360.com.my\/chinese\/case-study\/branding-lessons-asian-unicorns\/","title":{"rendered":"Branding Lessons from 5 Asian Unicorns"},"content":{"rendered":"<h1 class=\"post-gap\" style=\"font-size: 30px; line-height: 35px; font-weight: bold;\">Branding Lessons from 5 Asian Unicorns<\/h1>\n<p><img decoding=\"async\" class=\"aligncenter size-medium wp-image-3457\" src=\"https:\/\/www.brand360.com.my\/wp-content\/uploads\/2019\/11\/Unicorn-Startups.jpg\" alt=\"Asian Unicorn Startups\" width=\"500\" height=\"\" \/><\/p>\n<h6><em>By Julia Koh &amp; Syira Junaidi<br \/>\nNovember 2019<\/em><\/h6>\n<h5>Asian unicorns are dominating the startup investment scene. Southeast Asia alone houses at least 10 such companies, and stand behind India and China as the top three unicorn producers in the continent.<\/h5>\n<h5>So don\u2019t think unicorns are something only little girls would like. Investors, corporations and even the general public are interested in unicorns. These are startup businesses that have a brand valuation of over USD 1 billion or more.<\/h5>\n<h5>What helped these businesses to be valued so highly? Let\u2019s delve into 5 Asian unicorn brands and learn what they did:<\/h5>\n<ol>\n<li><strong><em>Grab<\/em>: Adapting to Demand Fast<\/strong><br \/>\n<iframe loading=\"lazy\" style=\"border: none; overflow: hidden;\" src=\"https:\/\/www.facebook.com\/plugins\/post.php?href=https%3A%2F%2Fwww.facebook.com%2FGrabMY%2Fphotos%2Fa.271356736286590%2F2413944048694504%2F%3Ftype%3D3&amp;width=800\" width=\"700\" height=\"400\" frameborder=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>We don\u2019t have to explain a lot about <em>Grab<\/em> and what it has done to Southeast Asia. What started as a taxi-booking app has now become a lifestyle brand for millions of people in the region.<\/p>\n<p>One of <em>Grab<\/em>\u2019s many factors for success was its ability to adapt to demands at breakneck speed. The brand was quick to expand to private cars for hire instead of sticking to taxis. It also adopted e-wallet and food delivery swiftly to rival competitors.<\/p>\n<p><em>Grab<\/em>\u2019s hyper-localised strategy meant that each region in Southeast Asia had a unique experience based on the socio-economic environment. That\u2019s why you can only hire motorcycles in Indonesia, Thailand, and Vietnam but not in Malaysia and Singapore. <em>Grab<\/em> offered what people want and they adapted fast, which led them to monopolise almost the entire Southeast Asia.<\/li>\n<li><strong><em>Alibaba<\/em>: Trust as Currency<\/strong><br \/>\n<iframe loading=\"lazy\" style=\"border: none; overflow: hidden;\" src=\"https:\/\/www.facebook.com\/plugins\/post.php?href=https%3A%2F%2Fwww.facebook.com%2Falibabagroupofficial%2Fphotos%2Fa.1154776191305623%2F1154775801305662%2F%3Ftype%3D3&amp;width=800\" width=\"700\" height=\"450\" frameborder=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>Right from the get-go, <em>Alibaba<\/em> strives to build consumer trust since 1999. They verify every single user, show proof of credibility of their merchants, and provide platforms for communication, payment, and returns. Before it got its IPO in 2014, <em>Alibaba<\/em> was valued at dizzying USD 42 billion.<\/p>\n<p>Today, the brand has expanded to offer services such as financing, logistics, and e-commerce. It owns a 55% market share in China, with the help of its B2C segment, <em>Taobao<\/em>. It owns <em>Alipay, Tmall, Lazada<\/em>, and a lot of backend software systems for businesses. <em>Alibaba<\/em> builds brand trust and give it currency, which becomes invaluable for customers around the world.<\/li>\n<li><strong><em>Razer Inc.<\/em>: Customer-Obsessed Gaming Ecosystem<\/strong><br \/>\n<iframe loading=\"lazy\" style=\"border: none; overflow: hidden;\" src=\"https:\/\/www.facebook.com\/plugins\/post.php?href=https%3A%2F%2Fwww.facebook.com%2Frazer%2Fphotos%2Fa.10150907562602576%2F10159098071422576%2F%3Ftype%3D3&amp;width=750\" width=\"700\" height=\"350\" frameborder=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>This Singaporean-American unicorn started with the demand for esports hardware and equipment. Its first products were gaming laptops, gaming tablets, and PC peripherals. But what sets <em>Razer<\/em> apart from heavyweights like <em>Alienware<\/em> or <em>Armageddon<\/em> is its commitment to gamers and the gaming lifestyle.<\/p>\n<p><em>Razer<\/em> aims to create a whole ecosystem for gamers, which means products and services from built from start to finish. It continues to produce software, wearables, sound systems, and even phones <a href=\"https:\/\/www.facebook.com\/minliangtan\/posts\/alright-i-didnt-think-these-guys-were-going-to-make-it-but-they-did-it-was-to-hi\/2281978321859937\/\" target=\"_blank\" rel=\"noopener noreferrer\"><u>(and maybe toasters)<\/u><\/a>. <em>Razer<\/em> is also extremely customer-centric and has worked endless hours to research and produce high-performing gaming equipment. Before it went public in 2017, the brand was valued at USD 4 billion.<\/li>\n<li><strong><em>Traveloka<\/em>: Localise &amp; Specialise<\/strong><br \/>\n<img decoding=\"async\" class=\"aligncenter size-full\" src=\"https:\/\/blog.traveloka.com\/source\/uploads\/sites\/14\/2019\/10\/1-2.jpg\" width=\"800\" height=\"\" \/><\/p>\n<p>Indonesia is home to a lot of unicorns. There\u2019s <em>Gojek, Bukalapak, Tokopedia<\/em>, and the unicorn with the highest value of them all, <em>Traveloka<\/em>. It started as a flight-booking app for Indonesian flights but had since grown to hotel-bookings, car rentals and expanded its operations to all over Southeast Asia and the world.<\/p>\n<p><em>Traveloka<\/em> offers a one-stop booking service from hundreds or thousands of partners in Indonesia and its neighbouring countries. While rivals like <em>Skyscanner<\/em> or <em>Airbnb<\/em> only offer flight-bookings and accommodations respectively, <em>Traveloka<\/em> offers both and more. Paired with the enormous consumer market in Indonesia desperate for a viable travel planner, it\u2019s little wonder that Traveloka quickly rose to success.<\/p>\n<p>With a valuation of USD 2 billion, <em>Traveloka<\/em> continues to find partners that offer local hospitality to customers and specialise in serving them the best travel experience.<\/li>\n<li><strong><em>OYO Rooms<\/em>: Establishing a Strong Brand Identity<\/strong><br \/>\n<iframe loading=\"lazy\" style=\"border: none; overflow: hidden;\" src=\"https:\/\/www.facebook.com\/plugins\/post.php?href=https%3A%2F%2Fwww.facebook.com%2Foyo.malaysia%2Fphotos%2Fa.591679727665740%2F1253605434806496%2F%3Ftype%3D3&amp;width=800\" width=\"700\" height=\"350\" frameborder=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>As mentioned, India is also home to many unicorns that have popped up over the course of this decade. There\u2019s <em>Zomato, Byjul,<\/em> and <em>Swiggy<\/em> to name a few. But the most famous and valuable unicorn has to be <em>OYO Rooms<\/em>, valuing at USD 6 billion and currently operating all over the globe.<\/p>\n<p><em>OYO Rooms<\/em>\u2019 branding has always been strong from the start. The brand is known for its signature red brand colour painted over hotel walls and signages. <em>OYO<\/em> also fiercely maintains its identity, insisting its hotel partners keep a consistent look. That\u2019s how <em>OYO Rooms<\/em> look the same regardless of the city or country it is in. Loyal customers would feel familiar whenever they stay at an <em>OYO Rooms\u2019<\/em> accommodation.<\/li>\n<\/ol>\n<h4>In Conclusion<\/h4>\n<h5>Startup unicorns are valued for their unique value proposition or a revolutionary new business model. But they also take their branding seriously from the start because they know it can be a tremendous asset to the business. Especially in Asia, a company\u2019s brand has to be strong due to the fast-growing competition and dynamic landscape.<\/h5>\n<h5>These Asian unicorns have taught us to understand our customers, adapt to demand, build brand trust and maintain a strong brand identity.<\/h5>","protected":false},"excerpt":{"rendered":"<p><span class=\"excerpt-hellip\"> [\u2026]<\/span><\/p>","protected":false},"author":3,"featured_media":4026,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[7],"tags":[],"table_tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Branding Lessons from 5 Asian Unicorns - Brand360<\/title>\n<meta name=\"description\" content=\"Asian unicorns are dominating the startup investment scene. 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