Rainforest, Asia’s leading eCommerce buy & build player, today announced that it has achieved a revenue milestone of US$30 million annualised run-rate after its first full year of operations. The announcement coincides with the completion of the aggregator’s latest round of acquisitions, bringing its total portfolio size to 12 brands, selling products across the maternity, baby care, kids & home categories.
Post-acquisition, Rainforest drives brand growth through marketing, pricing, supply chain, sourcing, product development and geographical expansion levers. The company’s portfolio of brands grew 3X faster than the US ecommerce market in the second half of 2021. They include brands like Easy Baby Travellers in the baby travelling products category, Lilly’s Love in the toys organising category and Feel At Home in the home beddings category.
JJ Chai, CEO and Co-Founder of Rainforest, shared, “I’m proud of the work the team has put in to get us this far in a relatively short amount of time. Our focus on brands and products for the modern mum helps us to be more deliberate with brand acquisitions and helps Rainforest be the preferred acquirer for brand owners that sell products to mums. While we will continue to grow our brands portfolio in 2022 via acquisitions, we are also investing a lot into differentiated capabilities to understand, build community and market to this segment.”
Rainforest also earlier this year announced the launch of its China business to strengthen its brand acquisition, sourcing & supply chain capabilities. The local team included senior hires such as Carson Lan, General Manager, and Abby Zhang, Advisor to spearhead its presence and growth in the market. Carson Lan joins the Rainforest team after 19 years of China experience with companies like Amazon and DHL, while Abby Zhang is a cross-border brand entrepreneur and founder of Speedfox.
“50 percent of Rainforest’s revenues already come from brands acquired from China based brand owners. We will be expanding the team to help provide Chinese brand owners exits, while also strengthening our sourcing and supply chain capabilities in China” said Mr. Lan.
Rainforest plans to build off the momentum achieved in its first year of operations and further accelerate growth in 2022. It expects to triple the size of its brand portfolio through acquisitions, including non-Amazon brands, expand its current brands into more markets & channels, and continue to hire top talent globally to build out some of the brands into global category challengers.