LAZADA receives more funding as Tengelmann joins investor group


Tengelmann Group

Tengelmann Group (Photo credit: Wikipedia)

lazada

It sure looks like a promising year for online retail giant LAZADA. Though a relatively new undertaking in the Philippines (lazada.com.ph), it has been a major online retail force in South East Asia having strong and vibrant businesses in Malaysia, Thailand and Vietnam to name a few.

The already successful online store received yet another major boost as LAZADA receives more funding as Tengelmann joins investor group according to a press release dated 1/22/2013.

To the usual customer like myself, I can only wish it translates to more benefits. Lazada.com.ph’s service has been remarkably well even during the holidays. My only gripe is that now, FREE DELIVERY is limited to orders of P1,000.00 and above. It used to be FREE FOR ANY ORDER, no minimum order amount required but I suppose they had to do this to expedite shipping and improve service. Anyway, orders below P1,000.00 are charged fairly lower than other online stores at a fixed charge of P55 for Metro Manila and P99 for outside Metro Manila.  Maybe it’s an experiment or it could be a permanent change but I think it’s an understandable and reasonable policy. Still, what made me shop relentlessly back then was the free delivery perk.

Just the other day, I got this “Long time no see: We noticed that we haven’t seen you in a while” email from Lazada’s auto-mailer. But with the recent changes in delivery charges, they shouldn’t be surprised at all.

Here’s hoping that this new funding being poured on Lazada ultimately translate to better, faster and more reliable service. After all, excellent service is always worth paying for.

(Scroll below for full press release.)

 

 

LAZADA receives more funding as Tengelmann joins investor group

LAZADA, Southeast Asia’s largest online department store, today announced that it has received an eight digit euro investment from German retail group Tengelmann Group (“Tengelmann”). Tengelmann invested in LAZADA’s German holding company in a similar fashion to the recently announced investments by Investment AB Kinnevik, J.P. Morgan Asset Management and Summit Partners. LAZADA will use the funds strategically as it continues to explore new opportunities to further improve customer satisfaction.

The customer experience has always been the main point of focus at LAZADA and the company is investing heavily to provide its customers with world-class services. By recently deploying a new fulfilment system, the company is already today able to guarantee two-day delivery on average across Southeast Asia. In December, LAZADA launched its marketplace platform, which allows offline retailers to leverage LAZADA as a sales channel while still being in control of logistics and operations, to further expand its product assortment and meet customer demand. LAZADA’s more than one million Facebook fans serve as a testament to LAZADA’s success in providing superior services to its customers.

The investment by Tengelmann was received on the back of an exceptionally strong December month. As an eCommerce pioneer in Southeast Asia, LAZADA seeks to educate the market about the benefits and convenience of online shopping and on December 12th the company launched its hugely successful Online Revolution campaign along the lines of Cyber Monday in the USA. By partnering with hundreds of suppliers across the region, the company were able to promote amazing supplier-backed deals to its customers. The company also worked closely with many of the region’s top eCommerce platforms to build excitement and awareness of this successful campaign. In Indonesia, LAZADA partnered with Indonesia’s leading telecom operator, Telkomsel, Yahoo! and several of the largest online portals and forums, making this one of the biggest online events in Indonesian history.

“We are very excited to join the LAZADA team,” Christian Winter, CEO of Tengelmann Ventures said, “their growth trajectory, management team and investor base speak for themselves and we are confident that the company will succeed in the long-run.” Maximilian Bittner, Regional CEO of LAZADA commented: “Having a strategic investor of Tengelmann’s calibre on-board is a huge win for LAZADA. They are bringing with them significant retail experience which will be of huge benefit as we strive to achieve our ambitious growth targets.”

 

 

 

About LAZADA
LAZADA (www.lazada.co.id, http://www.lazada.com.my, http://www.lazada.com.ph, http://www.lazada.co.th, http://www.lazada.vn) is Southeast Asia’s fastest growing online department store, with operations in Indonesia, Malaysia, Philippines, Thailand and Vietnam. LAZADA is pioneering eCommerce across some of the fastest growing countries in the world by offering a fast, secure and convenient online shopping experience with a broad product offering in categories ranging from consumer electronics to household goods, toys and sports equipment. LAZADA is always striving to offer its customers the best possible offering – including multiple payment options, free returns and extensive customer service and warranty commitments.
About Tengelmann Group
Tengelmann Group is an international operating retail company whose business interests are spread across a number of different industries. Subsidiaries include OBI, KiK, Kaiser’s Tengelmann, baby-markt.de and Plus Online. TREI Real Estate, as well as the holding company Tengelmann Ventures, which has been investing in promising online start-ups for several years, are also part of the corporate group. The family-owned business was established in 1867 in Mülheim an der Ruhr and is currently managed in fifth generation. Tengelmann Group is operating over 4,000 stores in 15 different countries and employing more than 80,000 people. The group’s annual turnover is totalling EUR 10bn.

 

 

 

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One thought on “LAZADA receives more funding as Tengelmann joins investor group

  1. Pingback: LAZADA secures $100 million of funding and launches a new mobile shopping platform | RJMarmol.com | Curated iPhone App News & Reviews

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