Lazada Group ( t/a Lazada ) is an international e-commerce party founded by Maximilian Bittner, Mads Faurholt, Stefan Bruun, and Raphael Strauch with the back of Rocket Internet in 2012, [ 1 ] [ 2 ] and owned by Alibaba Group. In 2014, Lazada Group operated sites in multiple countries and had raised approximately united states $ 647 million over several investment rounds from its investors such as Tesco, Temasek Holdings, Summit Partners, JPMorgan Chase, Investment AB Kinnevik and Rocket Internet. Its sites launched in March 2012, with a clientele model of selling inventory to customers from its own warehouses. In 2013 it added a market model that allowed third-party retailers to sell their products through Lazada ‘s locate ; the marketplace accounted for 65 % of its sales by the end of 2014. In April 2016, Alibaba Group bought controlling stake in Lazada to support Alibaba ‘s international expansion plans. [ 5 ]
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In September 9, 2018, Lazmall was launched on the platform to encourage purchase from 100 % authentic brands. Extra services like 15 days return policy and besides adjacent sidereal day delivery was put in invest. [ 6 ] In August 2018, Lazada is the largest e-commerce hustler in Southeast Asia based on average monthly web visits. [ 7 ] In September 2019, Lazada claimed it was the top e-commerce platform in Southeast Asia with more than 50 million active buyers per annum. [ 8 ]
history [edit ]
Lazada Group was founded in 2012 by Maximilian Bittner with the support of Rocket Internet [ 1 ] [ 2 ] with the intention of establishing the Amazon.com business model in Southeast Asia to take advantage of the nascent on-line consumer market and Amazon ‘s weak presence there ; [ 9 ] [ 10 ] Rocket is a german incubator that builds companies that copy the clientele models of successful US technical school companies in emerging markets. [ 9 ] [ 11 ] Lazada ‘s e-commerce websites soft launched in 2012. [ 12 ] It raised four rounds of fund in 2012 and early 2013 : JP Morgan invested an undisclosed come in September, Swedish investment firm Kinnevik invested $ 40 million in November, American secret equity tauten Summit Partners invested $ 26 million in December, and Tengelmann invested about $ 20 million in January 2013. [ 13 ] It besides added a 2-day guarantee delivery services, addressing one of the most coarse complaints about Lazada ‘s service, [ 13 ] and one of its biggest challenges, which it had attempted to address by making a “ massive, incalculable investment ” in warehouses and pitch services. [ 14 ] In June 2013, Lazada announced it had raised an extra $ 100 million, and it launched fluid applications for Android and io devices. [ 15 ] In December 2013, it raised an extra $ 250 million from Tesco PLC, Access Industries, and other existing investors. [ 16 ] In May 2014, Lazada launched in Singapore. [ 17 ] In November 2014, Temasek Holdings in Singapore led a fund round of $ 250 million, bringing the total Lazada had raised to approximately $ 647 million. [ 18 ] besides that month, Lazada announced that its marketplace chopine accounted for more than 65 % of its overall sales, [ 19 ] and that the act of third-party sellers on the platform had increased from ~500 in November 2013, to close to 10,000 in December 2014. [ 20 ] [ 21 ] The phone number of employees across the region reached approximately 4,000. [ 21 ] For 2014, Lazada ‘s net operate losses were $ 152.5 million on net revenues of $ 154.3 million. [ 22 ] however, its share of losses relative to its Gross Merchandise volume – the measure of all the products sold through the locate – was smaller in 2014 than in 2013 ascribable to increase in its GMV from $ 95 million in 2013 to $ 384 million in 2014, driven by market sales. [ 22 ] [ 23 ]
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In 2015, Lazada ‘s challenges for growth were the predilection for brick and mortar shop among customers, with precisely about 1 % of people buying on-line compared to 10 % of International shoppers ; the lack of accredit cards and the accompaniment prerequisite to arrange cash on rescue systems, reliable delivery particularly in rural regions, and the threat of competition from Amazon and Alibaba. [ 24 ] In March 2016, Lazada claimed it recorded a total of $ 1.36 billion in annual GMV across its six markets in Southeast Asia, making it the largest e-commerce player. [ 25 ] In April 2016, Alibaba Group announced that it intended to acquire a operate interest in Lazada by paying $ 500 million for new shares and buying $ 500M worth of shares from existing investors. [ 26 ] The british supermarket company Tesco confirmed the sale of 8.6 % of its restrain in Lazada to Alibaba for $ 129 million. [ 27 ] Alibaba gave the follow reasons for its investment : the marketplace in South-East Asia has growing middle-class income populations, estimated at that time to be around 190 million people in the region with a disposable income of $ 16- $ 100 a day, and this was expected to grow to 400 million people in 2020. [ 28 ] In June 2017, Alibaba Group increased its investment in Lazada by an extra $ 1 billion, raising its post from 51 % to 83 %. [ 29 ] Alibaba invested another $ 2 billion into Lazada in March 2018, and fall through Max Bittner was replaced as CEO by Alibaba executive Lucy Peng. [ 30 ] In September 2018, Lazmall was launched on the chopine to encourage leverage from 100 % authentic brands. Extra services like 15 days return key policy and besides next day rescue was put in place. [ 31 ] In December 2018, Peng was replaced by Pierre Poignant as CEO of Lazada, with Peng taking the role of executive president. [ 32 ] In December 2019, Lazada partnered up with Citibank to launch a new credit circuit board in Singapore, and then diverse countries later then. In June 2020, Pierre Poignant was replaced by Chun Li as CEO of Lazada. [ 33 ]
See besides [edit ]
References [edit ]
- Official website ( in English, Indonesian, Thai, and Vietnamese )