The online retailer in Southeast Asia, Lazada was established by Rocket Internet Gmbh of Germany. It had recently announced that it had secured another US$100 million from its investors in a push forward to expand into the region.
Many countries in Europe, as well as other countries such as the United States and China, as it accounts for 6% of the retail business this year. According to company estimates, 99% of Southeast Asians still opt to do their shopping offline and in the real world.
Lazada has operations in Vietnam, Thailand, the Philippines, Malaysia and Indonesia is aiming to change that behavior.
According to Lazada CEO Maximillian Bittner from their Singapore hub, "We see the same positive trends across the region. What a country like Vietnam or Indonesia may not have in GDP they make up for in enthusiasm for online."
The online retailer had announced it had secured US$100 million in funding from investors, namely, Kinnevik Investment AB, Summit Partners, Holtzbrinck Ventures and Tengelmann Group.
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