Lazada Group and RedMart team up in Singapore
Online shopping platform Lazada has agreed to acquire Singapore-based e-grocer RedMart.
In a statement issued today, RedMart said: “By teaming up, both parties will benefit from each other’s cutting-edge technological and operational infrastructure, as well as an extended customer network.”
RedMart will continue to operate independently after the transaction is completed.
RedMart’s platform allows customers to arrange grocery deliveries in Singapore within chosen two-hour delivery windows.
The partnership will allow Lazada to benefit from RedMart’s fulfilment capabilities in Singapore, and also enable RedMart to leverage Lazada’s seller base, ecosystem of third-party service providers and advanced technological resources.
“Through this partnership, we can further scale our logistics and tech platform to extend our product assortment and to offer an even more convenient service for our customers in Singapore,” said co-founder and CEO of RedMart, Roger Egan.
The transaction is expected to be completed in calendar Q4 2016.
Launched in March 2012, Lazada Group operates Lazada, Southeast Asia’s number one online shopping and selling destination, with presence in Indonesia (www.lazada.co.id), Malaysia, the Philippines, Singapore, Thailand and Vietnam.
Pierre Poignant, Lazada’s COO, will be a speaker at the World Mail & Express Asia Conference and Exhibition, which Triangle will organising at Singapore’s Pan Pacific Hotel on 14-16 November.
He will be giving a presentation on “Scaling up in South East Asia”, as part of a plenary session focusing on current future developments in the Asian e-commerce market.