ONLINE store Lazada.com has confirmed an investment by JP Morgan Asset Management, which will take a stake in the firm via its German holding.
JP Morgan Asset Management portfolio manager Robert Cousin, who worked on the deal from New York, confirmed the transaction.
He said in a statement: “We are excited to partner with Lazada as it continues to expand its e-commerce presence in Southeast Asia.”
Following its parallel launch in five Southeast Asian countries earlier this year, it said web ranking site Alexa.com is already ranking it among the top local business-to-consumer e-commerce sites in all of its markets.
“This growth is a testament to the huge potential of this region with a population of more than 600 million people and a growing young middle-class which are embracing new online experiences at an ever increasing pace through their mobile phones or other connected devices,” said regional chief executive officer Maximilian Bittner.
Lazada got the initial support of Rocket Internet, a global online venture incubator, and has since developed a wide offering ranging from consumer electronics to household goods, toys and sports equipment.
It now has about 1,000 employees are operating streamlined businesses with own logistics and distribution centres in Indonesia, Vietnam, Philippines, Thailand and Malaysia.
Source : link
JP Morgan Asset Management portfolio manager Robert Cousin, who worked on the deal from New York, confirmed the transaction.
He said in a statement: “We are excited to partner with Lazada as it continues to expand its e-commerce presence in Southeast Asia.”
Following its parallel launch in five Southeast Asian countries earlier this year, it said web ranking site Alexa.com is already ranking it among the top local business-to-consumer e-commerce sites in all of its markets.
“This growth is a testament to the huge potential of this region with a population of more than 600 million people and a growing young middle-class which are embracing new online experiences at an ever increasing pace through their mobile phones or other connected devices,” said regional chief executive officer Maximilian Bittner.
Lazada got the initial support of Rocket Internet, a global online venture incubator, and has since developed a wide offering ranging from consumer electronics to household goods, toys and sports equipment.
It now has about 1,000 employees are operating streamlined businesses with own logistics and distribution centres in Indonesia, Vietnam, Philippines, Thailand and Malaysia.
Source : link