After capitalising on Rocket Internet GmbH’s Lamoda (Russia’s Internet fashion online site just like Zalora but mainly deals with shoes of both international and local brands) and Dafiti (another online fashion site that’s like Zalora but based in Brazil), JP Morgan has moved deeper in partnership with the German-based business incubator as it invests in Lazada as announced last Thursday, September 13, 2012. Although Lazada declined to disclose the invested amount J.P. Morgan gave to Rocket Internet it is somehow described as “a substantial amount for the whole region.”
Lazada Philippines is one of Rocket’s new ventures, one of the largest eCommerce online retail sites. It stepped on Philippines’ shoresalong with its counterparts in other country’s within the Southeast Asia including Indonesia, Vietnam, Malaysia, and Thailand early 2012.
Stating on a press release, Lazada’s regional CEO, Maximilian Bittner, stated the pleasure of their new-found and continuous strengthening partnership with JP Morgan saying, “We feel very honoured to welcome J.P. Morgan to our investor group and are particularly excited to be joined by an investor that shares our vision and belief in the huge potential of this populous region replicating online shopping behaviours in developed countries. … This will further support our growth as we strive to offer all of our customers fast, convenient and secure online shopping experiences”.
Lazada has indeed grown since it started; as a matter of fact it bagged a good place at Alexa.com’s ranking of top B2C websites in the eCommerce industry. As they stated, “This growth is a testament to the huge potential of this region with a population of more than 600 million people and a growing young middle-class which are embracing new online experiences – ranging from eCommerce to social media – at an ever increasing pace through their mobile phones or other connected devices.
So for the coming months of its operation in the Philippines, we’ll see more of its advertisements and booming promos not only on the Internet world but even on televisions, billboards, and many more.