Online shopping mall Lazada has announced it has secured a new investor, Verlinvest, a Belgian family-owned, consumer-focused investment holding company in a recently closed funding round that injected about US$100 million of fresh capital.
The news last week that Zalora, which claims to be Asia’s fastest growing online beauty and fashion site, has secured fresh funding of US$100 million has sent shockwaves around the region, writes Karamjit Singh.
Despite Rocket Internet coming into the Vietnam market in a big way in February last year, PeaceSoft group CEO Nguyen Hoa Binh believes he has the right strategy to counter the big-spending German company.
Zalora has launched an iPhone shopping app that allows on-the-go shoppers across the region to seamlessly navigate over 500 brands and 15,000 products across the apparel, shoes, accessories and beauty categories.
Online fashion and beauty retailer Zalora said it has secured a 20-million-euro investment from German retail giant the Tengelmann Group.
The first Founder Institute boot camp attracted close to 100 participants, where the accelerator said its selection would be made based on founders having right set of aptitudes and character traits, not the strength of their ideas.
Despite all the buzz around e-commerce in Malaysia, one dotcommer-turned-brick-and-mortar businessman remains skeptical.
Malaysia proved to be a unique challenge to Japan’s Rakuten, but was an attractive enough market for the globally successful e-commerce superstar to take risks it has never taken done before in any other country.
With US$250 million in sales from Australia and New Zealand, Apac Sale Group is ready to take on Asia with Malaysia, Singapore and Thailand already on board and Indonesia, South Korea, the Philippines and Vietnam on the cards.
Lelong.my founder Richard Tan acknowledges that the pricing landscape has changed dramatically with the entrance of Rocket Internet and its two properties, lazada.my and zalora.my, into the Malaysian e-commerce landscape, but he is adopting a "wait and see” attitude for now while stressing that his own premium e-commerce site, superbuy.my, can play the price game if it wants to.