Wazzup Pilipinas!
Southeast Asia’s largest online shopping mall Lazada, recently announced its global partnership with Tesco PLC, Access Industries, Investment AB Kinnevik and Verlinvest which includes an investment funds of $250 million to its financial portfolio. The ties with several investors enable the company to further strengthen and bolster its market presence in global e-commerce.
According to Maximilian Bittner, CEO of Lazada Group, “We are delighted to welcome Tesco and Access to join our investor group through this funding round. Kinnevik and Verlinvest also join the investment, which know for business and operations. With this, it demonstrates that we are making great progress in building a large and sustainable company in Southeast Asia. We are excited to continue this journey together with our investors.”
This marks the first investment by multichannel retailer Tesco into a pure online player in the region and the starting point of close ties. Synergies of this partnership will span across customer analytics, private label development and supply chain management.