ECOVACS Group opened its first office in Singapore on November 20, 2023. The establishment of the Singapore office marks a new milestone in ECOVACS Group's globalization strategy, which aims to enhance its market presence and competitive edge in Southeast Asia as well as in global markets. Globalization has always been an integral part of ECOVACS' business strategy as a multinational enterprise, and it has now established a multi-brand strategy with ECOVACS ROBOTICS, TINECO, etc.

As a result of the rapid growth of overseas revenue for both ECOVACS RobOTICS and TINECO brands, the total revenue growth in overseas markets increased significantly by 47% and 53% respectively in the third quarter of 2023. Statistics show that the smart home appliance market in the APAC region is projected to grow at a CAGR of 22.0% between 2023-2030. The strong demand makes it an ideal region for ECOVACS Group to develop its globalization strategy and expand further.

As a pioneer and a leader in the industry of service robotics, ECOVACS ROBOTics boasts of a product portfolio that extends from indoor to outdoor applications and from home to commercial applications including robotic vacuum cleaners, robotic window cleaners, robotic air purification devices, robotic lawn mowers, etc. Committed to manufacturing premium smart household appliances, TINECO has been constantly creating new product categories with innovative technologies and broadening the range of application scenarios of its products with the launch of a smart wet-and-dry vacuum cleaner, an all-in-one food processor, and other products. Besides product innovation, ECOVACS Group also attaches great importance to the establishment of online and offline channels.

Leveraging the experience it gained in Chinese e-commerce, ECOVACS Group has collaborated with various e-commerce platforms around the world such as Amazon, Shopee, Lazada. It also actively forges cooperation with key local e-commerce channels, which has contributed greatly to its success in occupying a significant market share in region like Singapore, Vietnam, India, and Indonesia. Meanwhile, ECOVACS Group continues to focus on the construction of other DTC channels, including its official website, mobile APP, and offline retail channels.

At present, ECOVACS Group's products are exported to over 160 countries and regions worldwide, serving more than 50 million household users. Through its global expansion, the group has established an international business network encompassing key markets such as the EU countries, the U.S., and Asia Pacific. With the establishment of its new office in Singapore, ECOVACS Group will continue to leverage its robust manufacturing and innovation capabilities to develop advanced technologies and products that serve the real needs of customers and users worldwide.