The plan of Malaysian pet retailer Petico after acquisition of Singaporean online player

Petico, that claims to be the largest online pet retailer in Malaysia, has expanded its capabilities after the purchase of Singaporean online pet retailer Perromart. 

CEO and Founder of Petico, Daniel Choy, explains to GlobalPETS that he wanted to purchase Perromart’s assets as he saw potential considering its substantial customer base, brand equity and presence they had built in Singapore. 

“They had a very positive reputation and strong brand equity and, despite the issues, they did very well over the last 8-9 years of business,” he says. Perromart became insolvent earlier in the year.

What’s the plan now?
 
One of the first objectives of Petico after the takeover of Perromart is to improve its online capacities and presence in Singapore.

“The Singapore and Malaysian markets are quite similar, online is growing and we think there is still a big opportunity for offline retail,” Choy adds.

According to Choy, Petico stands out in the Malaysian e-commerce market and it now aims to “create confidence” in their products and ensure good price points in Singapore.

Petico, that was established in 2019, also has 12 stores in Malaysia and plans to open 2 veterinary clinics in the near future. GlobalPETS learned that the firm does not rule out the opportunity to open stores in Singapore to “complete the omnichannel experience” in the country.
 
According to market research predictions, the revenue in the pet food segment in Singapore amounted to $108.1 million (€99.6M) in 2022 and is expected to grow annually by 4.0%.