Lazada

2019-09-02T13:05:34Z

182.75.14.6: /* External links */

{{Infobox dot-com company
|name = Lazada Group
|logo = Lazada (2019).svg
|company_type = Private
|industry = [[Internet]]
|foundation = {{Start date and age|27 March 2012}}
|founder = [[Alexander Samwer]], Marc Samwer, Oliver Samwer
|location_city = [[Singapore]]
|area_served = International
|owner = [[Alibaba Group]]
|key_people =[[Peng Lei]] (Executive Chairwoman) Pierre Poignant (CEO)<ref>{{cite web|url= https://www.thestar.com.my/business/business-news/2018/12/13/lazada-veteran-pierre-poignant-is-replacing-lucy-peng-as-ceo/ |title= Lazada veteran Pierre Poignant is replacing Lucy Peng as CEO | publisher= |work=The Star ''(Malaysia)''|date=13 December 2018 |accessdate= 14 December 2018}}
</ref>
|services = [[E-commerce]] ([[Online shopping]])
|num_employees = 8,000+
|website = {{URL|https://www.lazada.com}} (corporate)
| alexa = {{Increase}} 36,775 (September 2018)<ref>{{cite web|url= http://www.alexa.com/siteinfo/lazada.com |title= lazada.com Site Info | publisher= [[Alexa Internet]] |accessdate= 19 September 2018}}
</ref>}}
'''Lazada Group''' is an international [[e-commerce]] company founded by [[Rocket Internet]] in 2012, and owned by [[Alibaba Group]]. In 2014, Lazada Group operated sites in multiple countries and had raised approximately US$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 business model of selling inventory to customers from its own warehouses. In 2013 it added a marketplace model that allowed third-party retailers to sell their products through Lazada's site; 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.<ref>{{cite web |url=https://www.cnbc.com/2016/04/12/alibaba-group-invests-1-billion-dollars-in-lazada-group-and-eyes-southeast-asia.html |title=Alibaba buys controlling stake in Southeast Asian retailer Lazada |author=Saheli Roy Choudhury & Arjun Kharpal | date=12 April 2016 |work=cnbc.com}}</ref>

In August 2018, Lazada is the largest e-commerce operator in Southeast Asia based on average monthly web visits.<ref>{{cite web |url=https://www.businesstimes.com.sg/companies-markets/seas-loss-widens-on-investment-in-shopee-e-commerce-platform |title=Sea's loss widens on investment in Shopee e-commerce platform |author= |publisher= |work=Business Times ''(Singapore)'' | date=23 August 2018}}</ref>

==History==
[[File:Lazada Laguna warehouse.jpg|thumb|Lazada warehouse in [[Cabuyao, Laguna]], Philippines during the company's 11.11 sale promotion in 2018.]]
Lazada Group was founded in 2012 by [[Rocket Internet]] with the intention of establishing the [[Amazon.com]] business model in southeast Asia to take advantage of the nascent online consumer market and Amazon's weak presence there;<ref name="forbes"/><ref>{{cite web |url=https://techcrunch.com/2012/11/12/samwers-online-shopping-mall-lazada-gets-40m-from-kinnevik-to-push-the-amazon-model-in-asia/ |title=Samwers’ Online Shopping Mall Lazada Gets $40M From Shareholder Kinnevik To Push The Amazon Model In International |author=Ingrid Lunden |date=12 November 2012 |work=TechCrunch}}</ref> Rocket is a German [[Business incubator|incubator]] that builds companies that copy the business models of successful US [[technology company|tech companies]] in emerging markets.<ref name="forbes">{{cite web |url=https://www.forbes.com/sites/ryanmac/2014/07/31/samwer-brothers-billionaires-rocket-internet-ipo/ |title=Germany's Samwer Brothers To Become Billionaires With Rocket Internet IPO |author=Ryan Mac | date=31 July 2014 |work=venturebeat.com}}</ref><ref>{{cite web |url=https://global.handelsblatt.com/edition/395/ressort/companies-markets/article/the-e-commerce-icarus |title=The E-Commerce Icarus |author=Terence Roth | date=23 March 2016 |work=handelsblatt.com}} - Max Chafkin, [http://www.inc.com/magazine/201206/max-chafkin/oliver-samwer-european-king-of-the-company-cloners.html Lessons From the World's Most Ruthless Competitor], ''Inc.'', 29 May 2012</ref> Lazada's e-commerce websites [[soft launch]]ed in 2012.<ref name=nextweb2012>Jon Russell, [https://thenextweb.com/asia/2012/03/20/t-minus-10-rocket-internets-ecommerce-clones-are-aiming-to-conquer-southeast-asia/ T-minus 10: Rocket Internet’s ecommerce clones are aiming to conquer Southeast Asia], ''NextWeb'', 20 March 2012</ref> It raised four rounds of funding in 2012 and early 2013: [[JP Morgan]] invested an undisclosed amount in September, Swedish retailer [[Kinnevik]] invested $40 million in November, German [[private equity]] firm Summit Partners invested $26 million in December, and [[Tengelmann Group|Tengelmann]] invested about $20 million in January 2013.<ref name=Next201301>{{cite web |url=https://thenextweb.com/asia/2013/01/22/lazada-rockets-amazon-clone-raises-8-digit-euro-investment-to-develop-its-e-commerce-marketplace/ |title=Lazada, Rocket’s Amazon clone in Asia, raises ‘close to $20m’ to develop its e-commerce marketplace |author=Jon Russell |date=22 January 2013 |work=thenextweb.com}}</ref> It also added a 2-day guaranteed delivery services, addressing one of the most common complaints about Lazada's service,<ref name=Next201301/> and one of its biggest challenges, which it had attempted to address by making a "massive, incalculable investment" in warehouses and delivery services.<ref>Susan Cunningham, [https://www.forbes.com/sites/susancunningham/2013/12/22/lazada-tesco-and-the-logic-of-logistics/ Lazada, Tesco and the Logic of Logistics], ''Forbes'', December 22, 2013</ref>

In June 2013, Lazada announced it had raised an additional $100 million, and it launched mobile applications for [[Android (operating system)|Android]] and [[iOS]] devices.<ref>{{cite web |url=http://vator.tv/news/2013-06-20-rocket-internets-e-commerce-giant-lazada-raises-100m |title=Rocket Internet's e-commerce giant Lazada raises $100M |date=20 June 2013}} - {{cite web |url=http://www.nationmultimedia.com/technology/Lazada-launches-mobile-shopping-app-for-Android-OS-30208638.html |title=Lazada launches mobile shopping app for Android OS | date=19 June 2013 |work=nationmultimedia.com}}</ref> In December 2013, it raised an additional $250 million from [[Tesco PLC]], [[Access Industries]], and other existing investors.<ref>{{cite web |url=https://blogs.wsj.com/digits/2014/12/01/lazada-group-raises-249-million-led-by-singapores-temasek-holdings/ |title=Lazada Group Raises $249 Million, Led by Singapore’s Temasek |author=Newley Purnell |date=1 December 2014 |work=Digits - Wall Street Journal}}</ref>

In May 2014, Lazada launched in Singapore.<ref>{{cite web |url=https://www.techinasia.com/lazada-singapore-launch/ |title=Lazada launches in Singapore with a new site and logo |author=Vanessa Tan | date=27 May 2014 |work=Tech In Asia}} - {{cite web |url=http://news.asiaone.com/news/diva/lazada-launches-its-home-ground-spore |title=Lazada launches in its home ground of S'pore |author=Victoria Ho | date=4 June 2014 |work=asiaone.com}}</ref>

In November 2014, [[Temasek Holdings]] in Singapore led a funding round of $250 million, bringing the total Lazada had raised to approximately $647 million.<ref>{{cite web |url=https://techcrunch.com/2014/11/29/lazada-rocket-internets-amazon-clone-in-southeast-asia-raises-250m-led-by-temasek/ |title=Lazada, Rocket Internet’s Amazon Clone In International, Raises $250M Led By Temasek |author=Jon Russell |date=29 November 2014 |work=TechCrunch}} - {{cite web |url=https://venturebeat.com/2013/12/09/lazada-raises-jaw-dropping-250m-to-mainstream-e-commerce-in-southeast-asia/ |title=Amazon clone Lazada raises jaw-dropping $250M to mainstream e-commerce in Southeast Asia |author=Rebecca Grant | date=9 December 2013 |work=venturebeat.com}}</ref> Also that month, Lazada announced that its marketplace platform accounted for more than 65% of its overall sales,<ref>{{cite web |url=http://e27.co/lazadas-marketplace-platform-accounts-for-65-of-its-sales-revenue-20141107/ |title= Lazada's Marketplace platform accounts for 65% of its sales revenue |author=Min Jie Yaw | date=7 November 2014 |work=e27.com}}</ref> and that the number of third-party sellers on the platform had increased from ~500 in November 2013, to close to 10,000 in December 2014.<ref>{{cite web |url=http://www.businesstimes.com.sg/consumer/lazada-grows-revenue-and-stable-of-online-3rd-party-sellers-amended |title=Lazada grows revenue and stable of online 3rd-party sellers |author=Claire Huang | date=6 November 2014 |work=nationmultimedia.com}}</ref><ref name=businessworldonline>{{cite web |url=http://www.bworldonline.com/content.php?section=CorporateBulletins&title=lazada.com.ph-celebrates-3suprdsup-year-via-shopping-extravaganza&id=104849 |title=Lazada.com.ph celebrates 3rd year via shopping extravaganza | date=23 March 2015 |work=Business World Online}}</ref> The number of employees across the region reached approximately 4,000.<ref name=businessworldonline />

For 2014, Lazada's net operating losses were $152.5 million on net revenues of $154.3 million.<ref name=ForbesEarnings2014>Susan Cunningham, [https://www.forbes.com/sites/susancunningham/2015/05/12/rockets-lazada-and-zalora-lost-235-3-million-in-2014-but-are-moving-toward-profitability/ Rocket's Lazada And Zalora Lost $235.3 Million In 2014 But Are Moving Toward Profitability], ''Forbes'', 12 May 2015</ref> However, its percentage of losses relative to its [[Gross Merchandise Volume]] - the value of all the products sold through the site - was smaller in 2014 than in 2013 due to growth in its GMV from $95 million in 2013 to $384 million in 2014, driven by marketplace sales.<ref name=ForbesEarnings2014/><ref>{{cite web |url=https://www.techinasia.com/shoppers-lazada-spent-350-million-2014-ecommerce-booms-southeast-asia/ |title=Shoppers on Lazada last year spent $350 million as ecommerce booms in Southeast Asia |author=Steven Millward | date=20 March 2015 |work=techinasia.com}}</ref>

In 2015, Lazada's challenges for growth were the preference for [[brick and mortar]] shopping among customers, with just about 1% of people buying online compared to 10% of International shoppers; the lack of credit cards and concomitant requirement to arrange [[cash on delivery]] systems, reliable delivery especially in rural regions, and the threat of competition from [[Amazon.com|Amazon]] and [[Alibaba Group|Alibaba]].<ref>[https://www.economist.com/news/business/21645763-global-online-shopping-giants-may-not-find-it-easy-conquer-region-home-field Home-field advantage], ''The Economist'', 7 March 2015</ref>

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.<ref>{{cite web |url=https://www.digitalnewsasia.com/lazada-claims-be-sea’s-no-1-e-commerce-player |title=Lazada claims to be SEA’s No 1 e-commerce player}}</ref>

In April 2016, Alibaba Group announced that it intended to acquire a controlling interest in Lazada by paying $500 million for new shares and buying $500M worth of shares from existing investors.<ref>Lulu Yilun Chen and Selina Wang, [https://www.bloomberg.com/news/articles/2016-04-12/alibaba-to-pay-1-billion-for-control-of-lazada-e-commerce-site "Alibaba Expands in Southeast Asia With $1 Billion Lazada Deal"], ''Bloomberg News'', 12 April 2016</ref> The British supermarket company Tesco confirmed the sale of 8.6% of its holding in Lazada to Alibaba for $129 million.<ref>{{cite news|title=Tesco starts sell-off ahead of results with Asian disposal|url=https://www.bbc.co.uk/news/business-36022305|accessdate=12 April 2016|publisher= |work=BBC News|date=12 April 2016}}</ref> Alibaba gave the following reasons for its investment: the market 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.<ref>{{Cite web|url=http://qz.com/591380/southeast-asias-middle-class-is-diverse-confident-and-growing-richer-by-the-day/|website=QZ|title=Southeast Asia’s middle class is diverse, confident, and growing richer by the day|accessdate=4 July 2016}}</ref>

In June 2017, Alibaba Group increased its investment in Lazada by an additional $1 billion, raising its stake from 51% to 83%.<ref>{{Cite news|url=https://techcrunch.com/2017/06/28/alibaba-ups-its-stake-in-southeast-asias-lazada-with-1-billion-investment/|title=Alibaba ups its stake in International’s Lazada with $1 billion investment|last=Russell|first=Jon|work=TechCrunch|accessdate=20 December 2017}}</ref> Alibaba invested another $2 billion into Lazada in March 2018, and replaced Lazada's CEO with Alibaba executive [[Peng Lei|Lucy Peng]].<ref>[https://www.reuters.com/article/us-alibaba-lazada-funding/alibaba-to-invest-extra-2-billion-in-lazada-in-aggressive-southeast-asian-expansion-idUSKBN1GV09W] - {{Cite web|url=https://techcrunch.com/2018/03/18/alibaba-doubles-down-on-lazada/|title=Alibaba doubles down on Lazada with fresh $2B investment and new CEO – TechCrunch|website=techcrunch |accessdate=19 March 2018}}</ref>

In December 2018, Peng was replaced by Pierre Poignant as CEO of Lazada, with Peng taking the role of executive chairwoman.<ref>https://www.thestar.com.my/business/business-news/2018/12/13/lazada-veteran-pierre-poignant-is-replacing-lucy-peng-as-ceo/</ref>

==See also==
*[[Shopee]]

== References ==
{{Reflist|30em}}

== External links ==
* [http://www.lazada.com/ Lazada Group website.]
* [https://www.collectoffers.com/my/lazada-voucher lazada Discount Voucher]

{{Alibaba Group}}

[[Category:Alibaba Group acquisitions]]
[[Category:Online marketplaces]]
[[Category:Companies established in 2011]]
[[Category:Companies based in Singapore]]
[[Category:2016 mergers and acquisitions]]

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Lazada