Alibaba has partnered Lazada Singapore to bring Taobao, an online marketplace and shopping site similar to eBay, Rakuten and Amazon, to Singapore. The partnership links Lazada directly to Taobao, which Alibaba says is its largest shopping platform.
Before the collaboration, Taobao shoppers in Singapore had to rely on agents such as ezbuy to shop on the website, which is also written in primarily Chinese. Now, a dedicated online store will be created that links directly to Taobao and will be called taobao.lazada.sg.
Labelled Taobao Collection, the new site will add 400,000 Taobao products to an existing lineup of about 5 million products. The site will also be translated into English and shoppers don’t have to worry about shipping options, payment methods and returns. Shoppers can track their orders end-to-end on Lazada.
“Lazada is aiming at solving difficulties that currently exist when shopping from Taobao, enabling an effortless way for them to shop,” a press statement from Lazada read when contacted by Marketing.
The move follows nearly one year after Alibaba acquired Rocket Internet’s 9.1% stake in Lazada for US$137million, along with a transaction including Alibaba’s investment of US$500 million in Lazada. This made the e-commerce giant the controlling shareholder of Lazada, equating to an equity valuation of Lazada of US$1.5 billion.
Just in November, Lazada acquired Redmart, Singapore’s e-grocer. According to an article by Techcrunch, Lazada bought the grocer for US$30-40 million.
Meanwhile in Malaysia, Lazada Malaysia recently revealed that it surpassed Lazada Singapore to become the fastest growing e-commerce platform. It has achieved over 100% growth sales for 2016, said an article by Bernama, a point confirmed by Lazada Malaysia to Marketing. The company is also a looking to triple the number of products sold on the platform to 30 million by the end of the year, a spokesperson added.
Lazada Malaysia also signed a deal with SME Corp Malaysia to bring an additional 25,000 merchants on to the platform in the couple of months. Highlighting the role the Malaysian government has played over the years, he said, it has been one of the most active and supportive governments in SEA.