Local firms unfazed by Alibaba?s Lazada buy
UNFAZED by Alibaba Group Holding Ltd.?s acquisition of Lazada Group SA, local e-commerce players are investing in logistics to ramp up their operations, seeing the deal as a vote of confidence in the Southeast Asian region?s online shopping industry.
?Alibaba?s recent investment in Lazada is a confirmation of Southeast Asia?s potential to be a hotbed of e-commerce and is likely to further accelerate consumer adoption of online shopping,? Paulo L. Campos III, co-founder and chief executive officer of Zalora Philippines, said in a recent e-mail interview.
Asked if his company is worried with the increased competition expected with the Chinese giant?s acquisition of Lazada, Sulit Managing Partner Anton F. Sheker said in a separate e-mail reply: ?No. Alibaba?s investment in Lazada is proof that untapped markets are ripe for the picking. It may even spark a land rush to acquire players in the market.?
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