Alibaba raises stake in Lazada
Alibaba will invest $1bn to increase its stake in Lazada from 51% to around 83%. In a statement issued today (28 June), Alibaba said that move demonstrated its “confidence in the growth potential of the Southeast Asian markets and its commitment to the region as part of its global strategy”.
Alibaba first acquired its majority stake in Lazada in April 2016 and this new transaction will increase the Chinese’s online retail giant’s total investment in Lazada to over $2bn.
Alibaba said that its investment in Lazada had already brought “unrivalled access to consumers in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam” – and “with only 3% of the region’s total retail sales conducted online, Southeast Asia is expected to offer tremendous growth potential”.
