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| Source: Aladdin Group. A lion dance to welcome Aladdin Street Singapore. |
Aladdinstreet aims to provide a trusted and secure e-market platform that allows merchants to trade, and consumers to purchase premium quality and halal* products. The Aladdin Group has already launched a site with a similar concept for Malaysia in April.
Aladdinstreet.com.my features more than 10,000 premium quality products which either have halal certification from the relevant halal certification bodies, or which do not require halal certification* in Malaysia but are certified for safety, hygiene and quality.
"Aladdinstreet has two product categories. If a merchant wants to target Muslim customers or the Muslim market, products such as cosmetics and beauty care, healthcare and pharmaceuticals must have halal certification," a spokesperson from the company clarified. "Aladdinstreet’s listing preference is for products with halal certification if the product falls under the following: biochemistry & agriculture, food ingredients, food & beverage, cosmetics and beauty care, healthcare and pharmaceuticals. Fashion and accessories must not include pigskin or a product that is toxic. Halal also means protecting the environment and nature conservation."
The Aladdin Group further aims to make Aladdin Street in the global top 10 for the most profitable e-commerce platforms, attracting over 60 million unique visitors monthly. Aladdinstreet.com.sg targets to achieve over S$50 million in sales within the first year of its launch, but what will also make the Aladdin Group unique is that it collaborates and works with government agencies, trade associations, chambers of commerce and halal certification bodies to help Singapore SMEs access the global e-marketplace via the Group’s international network.
“The direction and future for e-commerce and changes in consumption patterns are obvious and unpreventable,” said Dato’ Dr Kong. “Increasing rents and manpower shortages have caused retail shakeups and are preventing promising small businesses from setting up shop. Aladdin Street Singapore will be the next best alternative where merchants are also partners, and we will work closely with them to develop their businesses for a win-win-win partnership.”
Aladdinstreet.com.my features more than 10,000 premium quality products which either have halal certification from the relevant halal certification bodies, or which do not require halal certification* in Malaysia but are certified for safety, hygiene and quality.
"Aladdinstreet has two product categories. If a merchant wants to target Muslim customers or the Muslim market, products such as cosmetics and beauty care, healthcare and pharmaceuticals must have halal certification," a spokesperson from the company clarified. "Aladdinstreet’s listing preference is for products with halal certification if the product falls under the following: biochemistry & agriculture, food ingredients, food & beverage, cosmetics and beauty care, healthcare and pharmaceuticals. Fashion and accessories must not include pigskin or a product that is toxic. Halal also means protecting the environment and nature conservation."
Aladdin Group Co-founder & President Dato’ Dr Grace Kong says that the country’s excellent business environment and infrastructure will not only help the group become one of the world’s most profitable e-commerce platforms, but also noted that the Aladdin Street Singapore e-marketplace is the first to feature only halal and premium quality products catering to an under-served 14% of Singapore’s population.
The Aladdin Group has allocated up to US$130 million to promote and support the Aladdin Street brand name all over the world in the next three years. In addition to these global marketing efforts, the Aladdin Group will further invest S$2 million in phase 1 to support its Singapore efforts to make the Aladdin Street brand the brand of choice for halal and premium quality products.
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| Source: Aladdin Group. From left: Aladdin Group Co-Founder Dato’ Dr Sheikh Muszaphar Shukor Al Masriem, Dato’ Dr Grace Kong, also an Aladdin Group Co-Founder, and Dato' Sri Desmond To. |
“The direction and future for e-commerce and changes in consumption patterns are obvious and unpreventable,” said Dato’ Dr Kong. “Increasing rents and manpower shortages have caused retail shakeups and are preventing promising small businesses from setting up shop. Aladdin Street Singapore will be the next best alternative where merchants are also partners, and we will work closely with them to develop their businesses for a win-win-win partnership.”
According to Google and Temasek Holdings, Southeast Asia’s e-commerce market is set to grow more than sixfold to US$200 billion by 2025, driven mostly by the online e-commerce retail market and outpacing the growth of traditional retail sales.
The Aladdin Group is headquartered in Kuala Lumpur, Malaysia and is helmed by Co-founder and Malaysia’s first astronaut - Dato’ Dr Sheikh Muszaphar Shukor Al Masrie. The company believes that interest in an e-marketplace for premium quality and halal products is global. The global halal industry opportunity, excluding Islamic finance, is estimated by various industry sources to be worth up to US$2.3 trillion, the group said.
Singapore is the 29th country in which the group now has a joint venture. The other countries in Asia Pacific and the Middle East include mainland China, India, Indonesia, Thailand, Vietnam, Japan, South Korea, Taiwan, Australia, New Zealand, and Pakistan. Partnerships are being finalised in Iran, Jordan, Turkey, the UAE, KSA, Kuwait, Bahrain, Qatar and Oman.
Interested?
All merchants will have to undergo stringent halal compliance and business integrity checks by an in-house task force. While merchant participation is by invitation only, merchants may request inclusion through the Register button.
*Editor's note: A representative from the Aladdin Group has clarified: "Aladdin recognises halal certification bodies that are members of the Organization of Islamic Cooperation (OIC). Fifty-seven countries, Malaysia included. If the country is not an Islamic country, we will refer to the list of certification bodies recognised by JAKIM (Editor's note: Malaysia's Islamic authority). MUIS (Editor's note: Singapore's Islamic authority) and JAKIM have agreed to recognise each other’s halal standards. JAKIM and MUIS may not recognise a certification authority which is from an OIC country. As such, a buyer should check which halal certification authorities are supported by the Islamic authority in their country.
As a contrast, Zilzar, an e-marketplace for Muslims, on the other hand, separates products into halal and tayyib (طيب) categories. Zilzar lists halal certification authorities and also maintains a halal food index in conjunction with IdealRatings based on halal food producing companies in stock exchanges of OIC countries.
*Editor's note: A representative from the Aladdin Group has clarified: "Aladdin recognises halal certification bodies that are members of the Organization of Islamic Cooperation (OIC). Fifty-seven countries, Malaysia included. If the country is not an Islamic country, we will refer to the list of certification bodies recognised by JAKIM (Editor's note: Malaysia's Islamic authority). MUIS (Editor's note: Singapore's Islamic authority) and JAKIM have agreed to recognise each other’s halal standards. JAKIM and MUIS may not recognise a certification authority which is from an OIC country. As such, a buyer should check which halal certification authorities are supported by the Islamic authority in their country.
As a contrast, Zilzar, an e-marketplace for Muslims, on the other hand, separates products into halal and tayyib (طيب) categories. Zilzar lists halal certification authorities and also maintains a halal food index in conjunction with IdealRatings based on halal food producing companies in stock exchanges of OIC countries.