StageSeries C - II | Alive
Last Raised$65M | 4 yrs ago
About JOLLY Information Technology
JOLLY Information Technology is an eCommerce solutions provider & online retailer, helping mainstream manufacturers of apparel, outdoor gears, homeware and lighting appliances to maximize revenues, reduce the costs and risks of running an online business, and build their brands internationally. The company also operates JollyChic.com, a platform that helps users find popular garment brands at reasonable prices.
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Research containing JOLLY Information Technology
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CB Insights Intelligence Analysts have mentioned JOLLY Information Technology in 1 CB Insights research brief, most recently on Jan 11, 2023.
Expert Collections containing JOLLY Information Technology
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JOLLY Information Technology is included in 2 Expert Collections, including E-Commerce.
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Latest JOLLY Information Technology News
Aug 26, 2020
Saudi Arabia's E-Commerce Eyewear Market is projected to grow at a CAGR of 5.56% during the forecast period (2020-2025). The country's harsh and humid climate, along with a growing share of smartphones users, has let the eye wear market to gain traction in the region. That said, most of the demand is met by tourists, often including eye wear products as their daily requirement or as a part of souvenir culture. On the other hand, the presence of brands has also leveraged the eye wear platform and made it a highly competitive sector for established players. Online retailing for the same has undertaken an upswing, driven by the millennial population vying for new and enhanced products that go along with regular fashion. Key Market Trends Booming Online Retail Industry The growth opportunity for the sales of consumer goods through online channel has forced online vendors to improve purchase processes, in terms of security and reliability, which, in turn, has propelled the demand for these products. Moreover, vendors are adopting online retail strategies to reduce cost and increase their margins, which may benefit the market during the forecast period. Social media influencers, celebrity endorsement, and video/beauty bloggers on the other hand, are some of the niche group of sources that markets like Saudi Arabia crave for. Furthermore, availability of rare products in the online marketplaces are likely to build more confidence around consumers and likewise, quality at reasonable prices is expected to make such consumer spoilt for their choices. Spectacles Hold the Largest Market Share The growth of the corrective glasses segment is mainly driven by the increasing population suffering from refractive errors, raising awareness, and the cost-effectiveness of eye care devices over refractive surgeries. According to the research conducted by the University of Hail, in Saudi Arabia, the prevalence of refractive error among children was up by 18.5%. It has been stated that myopia is the result of a complicated interaction between genetic predisposition and environmental factors. Moreover, the increasing use of smartphones and computers is triggering the cases of computer vision syndrome (CVS). This factor has also been influencing the sales of corrective eyewear from the past few years. Competitive Landscape In the Saudi Arabia e-commerce eyewear market, companies are thriving for their market share with merger and acquisition (M&A) and expansion being the most adopted strategies followed by partnerships and product innovation. The growing prevalence of social media among Saudi population also boosted the market value of e-commerce websites as with the increasing technology in Big Data, these e-commerce companies analyze consumer behaviors and market their product on the social media, such as Instagram and Facebook, according to the most searched products by the user. Some of the major players in the market studied are Amazon.com Inc., Awok.com, Noon, Emaar Malls (Namshi), EssilorLuxottica SA (Persol) among others. Key Topics Covered
JOLLY Information Technology Frequently Asked Questions (FAQ)
When was JOLLY Information Technology founded?
JOLLY Information Technology was founded in 2008.
Where is JOLLY Information Technology's headquarters?
JOLLY Information Technology's headquarters is located at 3rd Floor, Building 1, Yingtian Pixel Park, Hangzhou.
What is JOLLY Information Technology's latest funding round?
JOLLY Information Technology's latest funding round is Series C - II.
How much did JOLLY Information Technology raise?
JOLLY Information Technology raised a total of $100.12M.
Who are the investors of JOLLY Information Technology?
Investors of JOLLY Information Technology include Group 42, Legend Capital, CDH Investments, Orchid Asia Group Management, Sequoia Capital China and 7 more.
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