LAZADA receives $40 million investments
Following the announcement of investments in the third quarter results statement of Investment AB Kinnevik (“Kinnevik”), LAZADA, the leading online department store in Southeast Asia, can confirm that Kinnevik has invested north of USD40 million in its German holding company. Together with the recently announced investment by J.P.Morgan Asset Managemet this provides LAZADA with an exceptionally well‐funded balance sheet to continue its fast growth in Southeast Asia. The investment will allow LAZADA, which has quickly established itself as the preferred online retailer in the region, to continue building out its product offering and expand its reach.
“By focusing on providing superior service to our customers we have grown into a trusted household brand and to broaden our assortment is a natural next step for us” – Maximilian Bittner, Regional CEO.
LAZADA recently added fashion to its extensive product offering, which includes a range of products from consumer electronics to household goods, toys and sports equipment.
“Kinnevik has a proven track‐record of investing in emerging markets and we are very excited to have such a knowledgeable and experienced investor on board. In addition to capital they will provide us with invaluable strategic insight of operating in such markets. It is also a strong testament to what we have accomplished so far and verifies that we are on the right track to achieve our aggressive strategic goals”
– Mr. Bittner added.
“We are delighted to invest in LAZADA which has obtained a market leading position in a very short time” Henrik Persson, Head of Investments at Kinnevik commented. The company is perfectly positioned to become the major eCommerce player in this region which counts more than 600 million inhabitants.
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Lazada Philippines – Online Shopping