;
Home / Knowledge / News / Apparel/Garments / China's Alibaba to invest another $2 bn in Lazada
China's Alibaba to invest another $2 bn in Lazada
24
Mar '18
China’s Aibaba Group will invest a further $2 billion in Singapore-based Lazada, a southeast Asian online shopping giant, as part of the group’s efforts to accelerate the region’s e-commerce, the company recently announced. The move will deepen Lazada’s integration into the Alibaba ecosystem and makes the latter’s total investment in the former $4 billion.

In 2016, Alibaba acquired control of Lazada with an investment of $1 billion and raised its stake to 83 per cent in 2017 by investing another $1 billion.

Lucy Peng, who currently serves as Lazada’s chairwoman and is one of the 18 founders and a senior partner in the Alibaba Group, said the region is a hot spot for growth and exciting opportunities, according to an Alibaba press release.

Lazada founder Max Bittner, who has served as its CEO since 2012, will take on the role of senior advisor to Alibaba Group to assist in the transition and future international growth strategy.

Launched in 2012, Lazada is the leading online shopping and selling destination in Southeast Asia, with presence in Indonesia, Malaysia, the Philippines, Thailand and Vietnam. The platform now has over 145,000 local and international sellers, 3,000 brands and more than 560 million consumers. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Pxhere

Textiles | On 24th Jan 2019

Cabinet okays National Bench of GST Appellate Tribunal

The Union Cabinet, chaired by Prime Minister Narendra Modi, has...

Piyush Goyal likely to present Interim Budget 2019-20

Textiles | On 24th Jan 2019

Piyush Goyal likely to present Interim Budget 2019-20

Minister of railways Piyush Goyal is likely to present Interim Budget ...

Courtesy: Pxhere

Textiles | On 24th Jan 2019

China's textile & apparel exports up 3.5% in 2018

Textile and apparel exports from China increased by 3.5 per cent...

Interviews View All

Varinder Singh Jawanda, Trendy Bharat

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Veronique Lee, Modavanti

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Amit Jain, Shingora Textiles Ltd

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Sarah Perkins,

Sarah Perkins

Fairfax, Virginia-based Specialty Graphic Imaging Association (SGIA) is a...

Yash Jain & Sanjeev Jain,

Yash Jain & Sanjeev Jain

Divyam Export, launched about 30 years ago, exports to 15 countries,...

Hardik Sanghvi,

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Justin Gutierrez, INDA

Justin Gutierrez
INDA

The Association of the Nonwoven Fabrics Industry (INDA) has created a new...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

EDANA, the international association serving the nonwovens and related...

Luis Quijano, Liberty University

Luis Quijano
Liberty University

Focusing on bold patterns and colour palettes, Luis Quijano, a student at...

Jay Ramrakhiani, Occasions Elegance Wear

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Karan Arora, Karan Arora

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Pranav Mishra, Huemn

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


February 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search