ONLINE shopping platform Zalora is upbeat about the prospects of the e-commerce market in the Philippines given its own growth story in recent years.
Paulo Campos 3rd, chief executive officer of Zalora Philippines, told The Manila Times it was not impossible for the Philippines to top the Southeast Asian e-commerce market in the years ahead.
Campos noted that Zalora’s growth in the country had surpassed Southeast Asian peers.
“Our growth has been accelerating for the past 18 months relative to our Southeast Asian peers, who were initially much bigger and much farther ahead of us in terms of e-commerce progress.”
“I think we’ve closed the gap and in some cases surpassed some of our Southeast Asian peers,” Campos added.
He did not disclose actual figures, but added that Zalora’s performance for the fourth quarter of 2017 marked its “highest” growth versus earlier parts of the year.
In December, Campos told reporters that Zalora has been generating higher than the 34 percent growth it had posted in the past 10 years.
“So the momentum is certainly surging and very, very strong,” he said.
With the Ayala group on board, Zalora said it is well on its way to strengthening its status in the fashion online market by opening more pop-up stores this year.
Ayala acquired a 49-percent stake in Zalora Philippines last year from Global Fashion Group.