Lazada news and archive

Lazada Group announces leadership succession plan

Southeast Asia’s leading e-commerce company, Alibaba-owned Lazada Group, has announced that its executive president Pierre Poignant will succeed Lucy Peng as CEO of the Lazada Group with immediate effect as part of the group’s succession planning. Peng will remain executive chairwoman of the Lazada Group. “Pierre is a well-respected Lazada...

Business

Alibaba doubles investment in SE Asia e-commerce firm

Chinese e-commerce giant Alibaba said Monday it will appoint one of its founders as head of Lazada and inject another $2 billion into Southeast Asia's leading online shopping firm, boosting its regional expansion. Alibaba, which already owns 83 percent of Lazada with two investments totalling $2 billion as of June last year, has been trying to...

ManagementFeatured

Alibaba profit nearly doubles on robust revenues

Chinese e-commerce giant Alibaba said Thursday its net profit almost doubled in the latest quarter on the back of solid revenue growth in its core shopping business and in cloud computing. Alibaba, which has made billionaire founder Jack Ma one of China's richest men and a global e-commerce icon, has seen its New York-listed shares soar 80...

Business

China's Alibaba boosts stake in SE Asia online sales

Chinese e-commerce giant Alibaba said Wednesday it would inject another 1 billion USD into Southeast Asia's Lazada, as the cashed-up company increases its stake in the region's nascent online shopping market. The investment will raise Alibaba's holding in Lazada to 83 percent from 51 percent and take its total outlay on the company so far to...

Report

Alibaba invests 1bn dollars to acquire remaining stake in Lazada

Alibaba is all set to acquire Kinnevik and Rocket Internet’s remaining stake in online Southeast Asian platform Lazada for around 1 billion dollars. While Kinnevik’s stake in Lazada stands at 3.6 percent, Rocket Internet holds 8.8 percent stake in the company. In April 2016, Alibaba acquired slightly less than half of Kinnevik’s shares in Lazada...

Business

Alibaba financial affiliate valued at 60 US billion dollars

China's top internet finance company, e-commerce giant Alibaba's affiliate Ant Financial, could start the process of going public this year, reports said Monday, with the firm's latest fundraising valuing it at 60 billion US dollars. Ant Financial Services Group, which owns and operates the Paypal-like service Alipay, has met the Chinese listing...

Management

Tesco sells stake in non-core asset Lazada to Alibaba

British retail giant Tesco has begun its sale of non-core assets as it focuses on reviving its main grocery arm, offloading approximately half of its stake in Lazada to e-commerce heavyweight Alibaba for a cool 129 million US dollars (90.6 million pounds). The UK supermarket chain, which previously held a 19.6 percent stake of the South East...