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Draft:New Aim

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New Aim
Company typePrivate
IndustryOnline retailer, marketplace
Founded2005, Melbourne, Australia
FounderFung Lam, Werner Liu
Headquarters
Hawthorn, Melbourne
Key people
CEO & Co-Founder: Fung Lam, Co-Founder: Werner Liu, COO: Cecilia Chiu
BrandsArtiss, Giselle Bedding, Devanti, Cefito, Gardeon, Everfit, Giantz, Keezi, Rigo, Weisshorn, Greenfingers, Embellir, i.Pet, Jingle Jollys
Number of employees
400+
SubsidiariesDropshipzone, AirOxy
Websitewww.newaim.com.au

New Aim is one of Australia's largest and fastest-growing private ecommerce companies.[1]

New Aim operates more than 14 brands and distributes its products across nearly 40 online platforms including MyDeal, eBay, Amazon, and Kogan, as well as the e-commerce sites of major retailers such as Bunnings, Myer, and David Jones.[2]

In addition to importing, wholesaling and retailing household and other goods online at affordable prices, New Aim also offers tech solutions and reimagines the possibilities of ecommerce for Australian retailers by developing proprietary technology that improves supply chain management, multichannel integration and price decisioning.[3]

In 2022, New Aim was named among Asia Pacific's 500 fastest growing companies by Financial Times and Statista for the third consecutive year. It is the only Australian ecommerce company to achieve this status.[4]

History

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Fung Lam and Werner Liu co-founded New Aim as recent university graduates in Melbourne in 2005, after getting a taste for e-commerce by scouring Melbourne two-dollar shops for things to mark-up on eBay.[5]

Having recognised that businesses vary in their technical and supply chain capabilities, New Aim developed and launched a dropshipping platform, Dropshipzone. Founded in 2012, Dropshipzone is Australia's B2B2C marketplace, powered by New Aim. This subsidiary is one of the most established drop shipping suppliers in Australia.[6]

Under the dropshipping model, Retailers can list and sell products on their online store without holding any stock. Once an order is received by the Supplier, it is shipped directly from the Supplier to the end customer. The Retailer never handles the physical stock and only pay the Supplier once the customer has placed their order. This model helps eliminate risks of overstocking and overcome barriers to entry that traditional SMEs might face when starting a business online.[7]

In October 2022, Dropshipzone pivoted from an inventory-led model to a marketplace with numerous Suppliers marking a change to a commission-based model.[8]

In 2019, Liu and Lam debuted in the top 30 of the Financial Review Young Rich List with an estimated net worth of $141 million respectively. In April 2021, it was reported that Lam bought out Liu's half of the business due to differences on the future direction of the company.[9]

In July 2024, after recognising the need to further empower retailers with tools, insights and data to help simplify the complexities of ecommerce, New Aim launched their AI-powered platform, AirOxy.[10] AirOxy harnesses big data from top Australia ecommerce marketplaces and provides users with insights on their products profitability and sales. The AI data driven application is designed to give users insights on how to maximise return on their ecommerce business.[11]

As of August 2024, New Aim`s portfolio includes a diverse range of over 6,000 products, annual revenue exceeding $300 million,[12] 14+ proprietary brands distributed across nearly 40 online platforms, 5 warehouses throughout Australia and an eBay store positive feedback rating of 99.95%.[13]

References

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  1. ^ Retail, Power (2022-10-17). "Dropship venture for New Aim finalises transition to B2B marketplace". Power Retail. Retrieved 2024-08-14.
  2. ^ "E-commerce Young Rich Listers in $101m split". Australian Financial Review. 2021-07-27. Retrieved 2024-08-14.
  3. ^ CIO (2024-03-12). CIO Leadership Live Australia with Dr Alex Ji, Chief Information Officer, New Aim. Retrieved 2024-08-14 – via YouTube.
  4. ^ Bencic, Emily (2022-04-01). "New Aim named among Asia Pacific's fastest growing companies". retailbiz. Retrieved 2024-08-14.
  5. ^ "From two-dollar shops to $280m e-tailer for New Aim founders". Australian Financial Review. 2019-08-07. Retrieved 2024-08-14.
  6. ^ "Best Australian Dropshipping Suppliers Shopify in 2023". Ecomheroes. 2023-04-13. Retrieved 2024-08-14.
  7. ^ "Dropshipping: All You Need To Know | Waredock". https://www.waredock.com/. Retrieved 2024-08-14. {{cite web}}: External link in |website= (help)
  8. ^ "New Aim completes 'biggest pivot' in Dropshipzone history". Business News Australia. Retrieved 2024-08-14.
  9. ^ "E-commerce Young Rich Listers in $101m split". Australian Financial Review. 2021-07-27. Retrieved 2024-08-14.
  10. ^ Bencic, Emily (2024-07-31). "Industry leaders attend and exhibit at Online Retailer". retailbiz. Retrieved 2024-08-14.
  11. ^ "AirOxy". airoxy.com.au. Retrieved 2024-08-14.
  12. ^ Stensholt, John (14 August 2024) [March 29, 2022]. "The List - Australia's Richest 250 debutants: Dr Sam Prince, Fung Lam, Jo Horgan". The Australian.
  13. ^ "Feedback Profile". eBay. 14 August 2024. Retrieved 14 August 2024.
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