The Lazada representative refutes earlier reports that Alibaba, the parent company, has negotiated with large companies in Thailand to sell Lazada’s business exclusively in the country, stating that the company has never considered this and has not engaged with any investors on this matter, all of which are untrue.
Currently, Alibaba owns Lazada after gradually acquiring shares over the years and completing the full acquisition in 2016. Lazada is now under the international e-commerce business group, as part of the strategy to divide the business into 6 groups by 2023, which includes AliExpress (B2B business) and Trendyol (e-commerce in Turkey).
According to the latest quarterly earnings report, Alibaba’s international e-commerce business group has shown significant growth, with a 45% increase in revenue compared to the previous year.
Source: South China Morning Post
TLDR: Lazada denies reports of Alibaba negotiating to sell its business in Thailand, with Alibaba’s international e-commerce business experiencing substantial growth in revenue.
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