Lazada confident of post-Covid growth with Alibaba funding
2 months ago
SINGAPORE: Lazada Group, the Southeast Asian e-commerce arm of Alibaba Group Holding, expects to see less competition in the once hotly contested region now that life after the worst of Covid is having to adapt to an economic slowdown, according to CEO James Dong.
How might competitors like the much larger Sea lose ground?
“The biggest differentiation and long-term entry barrier for e-commerce platforms is technology,” Dong told Nikkei Asia in a recent interview. “Second, of course, is funding.”
Dong’s comments follow a fresh cash injection by Lazada’s Chinese parent company. According to recent regulatory filings in Singapore, Alibaba in late August invested US$912.5 million in the platform, bringing the total this year to almost US$1.3 billion. Alibaba also made an investment in May.
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