Naked Hub is known for its co-working space business and is based in Shanghai. In a recent announcement made by the company, they have decided to merge with JustCo, a company that is based in Singapore. The partnership between these two big names when it comes to the co-working space sector has lead to the creation of the biggest premium operator in all of Asia. While there are many co working space in Bangkok and other cities in Asia, this partnership has prompted a competition against the leading company in the co-working space industry which is the WeWork.
Naked Hub which is working hand in hand with a hospitality brand called Naked Group and together they have 20 co-working locations scattered in three countries – Vietnam, China and Hong Kong. WeWork, on the other hand, has 12 co-working locations that are found all over the northern part of Asia.
As a result of the merging between JustCo and Naked Hub, they are planning to have a total of 41 co-working spaces before 2017 ends. They are targeting to put up co-working spaces in countries located in the southeastern part of Asia including Kuala Lumpur, Bangkok and Jakarta. According to an estimate by Naked Hub, the venture will bring the company a total of $100 million in earnings along with the co-working spaces they have up and running for 2017.
Naked Group is aiming to have a total of 194 co-working spaces when 2020 hits as disclosed by its founder and chief executive officer, Grant Horsfield.
Horsfield said that when it comes to co-working spaces in Southeast Asia, JustCo is the leading operator while Naked Group works best in the north. Through the partnership, they will be able to create the largest premium co-working space in all of Asia.
There are already a number of competitions in the market which is evident with the existence of co working space in Bangkok and other major cities in Asia thus the company recognizes that they must do everything in order to run with the times. For now, the two companies will be operating while carrying their own brands and eventually JustCowilbe slowly changed to Naked Hub.