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Alibaba Invests Extra US$1b in Lazada to Expand in Southeast Asia

Alibaba on Wednesday (6/28) said that it was investing a further estimated US$1 billion to increase its stake in Singapore-based e-commerce platform Lazada to around 83 per cent. Alibaba on Wednesday (6/28) said that it was investing a further estimated US$1 billion to increase its stake in Singapore-based e-commerce platform Lazada to around 83 per cent. Photo: Lazada

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“The e-commerce markets in the [Southeast Asia] region are still relatively untapped, and we see a very positive upward trajectory ahead of us. We will continue to put our resources to work in Southeast Asia through Lazada to capture these growth opportunities,” said Daniel Zhang Yong, chief executive of Alibaba Group in the company statement.

 

The Chinese e-commerce juggernaut’s push into the region as an international player puts it ahead of US online retail giant Amazon, which originally planned to launch in Singapore in the first quarter of this year. The much-anticipated launch has since been pushed back to an unspecified date, according to technology news site TechCrunch, which quoted anonymous sources.

 

“Alibaba’s investment in Lazada is a strong vote of confidence, giving us the ability to work even closer,” said Maximilian Bittner, chief executive of Lazada Group in an interview with the South China Morning Post.

 

In Singapore, Alibaba’s e-commerce marketplace Taobao has already partnered with Lazada to bring over four million Taobao products to its platform, allowing Singapore shoppers to purchase them directly on Lazada.

 

Dubbed the “Taobao Collection”, Bittner said that the sales trajectory and weekly growth had been “fantastic”, although he declined to elaborate on sales numbers.

 

The company also launched its Taobao Collection in the Malaysia market earlier this month, and plans to bring it to the rest of its Southeast Asian markets in the future.

 

The Alibaba-Lazada co-operation will also see Lazada eventually ship products to Chinese consumers, something that Bittner says is currently under “test and trial”, although he declined to reveal further details.

 

 

 

 

By Courtesy of South China Morning Post

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