Lazada, the online department store which launched in spring 2012 in Southeast Asia, has announced that J.P. Morgan Asset Management invested by taking a stake thru their German holding,
Lazada is the newest e-commerce sites that ventured in the Philippines, backed by Rocket Internet. They have received a mixed reactions in the past though as I can see on Twitter, with alleged delays in some shipments. Hopefully the recent transaction means that the future will be all well.
“We feel very honored to welcome J.P. Morgan to our investor group and are particularly excited to be joined by an investor that shares our vision and belief in the huge potential of this populous region replicating online shopping behaviors in developed countries”, regional CEO Maximilian Bittner commented. “This will further support our growth as we strive to offer all of our customers fast, convenient and secure online shopping experiences”.