AXELUM Resources Corp. has opened an online coconut shop in the Philippines, signaling the company’s entrance into the country’s e-commerce market.
The publicly traded coconut producer and exporter announced Monday that its store is now available on online marketplaces Shopee and Lazada, selling items under the Fiesta name.
Axelum said the two e-commerce sites would sell its coconut goods, which include coconut milk powder, coconut cream and milk, and coconut cooking oil.
Axelum President and Chief Executive Officer Henry J. Raperoga expressed trust that the company’s international e-commerce growth can be replicated in the Philippines.
“In light of the current environment, we recognized existing opportunities to build on growing customer desires for at-home cooking and safe contactless retail transactions,” he said.
“Customers can be confident of receiving world-class export-quality coconut goods at competitive rates, for which we have been internationally recognized since 1986,” he said.
In 2018, Axelum partnered with multinational e-commerce website Amazon to introduce a merchandise line under the Fiesta Tropicale name.
The company recently stated that it was looking to expand its market share in the US e-commerce market as a result of favorable consumer feedback for its goods.
Meanwhile, Axelum is evaluating multiple digital media channels and consumer touch points to increase brand recognition this year, while also anticipating long-term success from its e-commerce segment.
The corporation intends to establish a specialist marketing department to oversee various marketing campaigns.
“Overall, we are optimistic about the potential growth prospects of our local e-commerce firm, which will not only benefit Axelum but also inspire Filipinos to indulge in their favorite dishes and sweet cravings with a balanced coconut twist,” Mr. Raperoga said.
Axelum’s net profits fell 32.1 percent to P526.41 million last year as a result of the coronavirus disease 2019 (COVID-19) pandemic’s effect on its activities.