Southeast Asia’s largest online shopping mall, Lazada and Tesco PLC, Access Industries, Investment AB Kinnevik and Verlinvest signed $250 million to its financial portfolio.
The ties with several investors enable the company to further strengthen and bolster its market presence in global e-commerce.
“We are delighted to welcome Tesco and Access to join our investor group through this funding round,” Maximilian Bittner, chief executive officer of Lazada Group, in a statement said.
“Kinnevik and Verlinvest also join the investment, which know for business and operations. With this, it demonstrates that we are making great progress in building a large and sustainable company in Southeast Asia. We are excited to continue this journey together with our investors,” the official added.
This marks the first investment by multichannel retailer Tesco into a pure online player in the region and the starting point of close ties.
Synergies of this partnership will span across customer analytics, private label development and supply chain management.
Since its launch, Lazada has become the leading online general merchandiser across the region.
As key pillars of Lazada’s long-term strategy, the company has opened up its platform with great success to third-party merchants to increase assortment and allowing both large and small suppliers take advantage of Lazada’s traffic volumes. The company continued building its category mix by expanding into fashion, and developed an affiliate program that will help the region’s broader web community to flourish by providing web portal and blog owners an opportunity to monetize their website.
As another key cornerstone of the Group’s strategy, Lazada also launched Lamido in Indonesia and Vietnam to tap into the large informal e-commerce market of C2C transactions, which includes thousands of shops on social networks such as Facebook.
Lazada is continuously striving to offer its customers the best possible shopping experience with multiple payment methods including cash on delivery, extensive warranty commitments and free returns.
Lazada operates in Indonesia, Malaysia, Philippines, Thailand and Vietnam.