Monday, 24 February 2014

Lazada Drives For Regional Domination As It Heads For Singapore

Rocket Internet's Lazada. which counts Tesco among its shareholders, plans to launch an internet site in Singapore this year.

The general merchandise etailer plans to establish the site in the second quarter of this year, according to Singapore's Business Times.

Lazada sells electronics, home goods, books and toys as well as fashion. It launched in 2012 and also operates in Thailand, Malaysia, Indonesia, Vietnam and the Philippines.

Lazada attracted attention last year when Tesco emerged as its latest shareholder with a stake worth 'tens of millions' in a $250 million funding round with other investors such as Verlinvest and Kinnevik.

Rocket seems keen to dominate the Southeast Asian region before western retailers such as Amazon get a foothold.

Rocket Internet's fashion etailer Zalora is based in Singapore and operates across the region and it has also launched international food ordering service Food Panda in the country.

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