“We go where the brands want us to go," Lazada Group Chief Executive Officer James Dong, 43, said in an interview in Singapore. — Alibaba Group Holding Ltd.’s Lazada Group is preparing to make its maiden foray into Europe, building on its success in Southeast Asia to take on rivals such as Amazon.com Inc. and Zalando SE in one of the biggest online shopping markets.
A European push by Lazada would mark a revival in Alibaba’s global ambitions, which have slowed in recent years in the face of torrid competition from Amazon and Tencent Holdings Ltd.-backed Sea Ltd. The Chinese company has also had a mixed record beyond its home turf. It dipped a toe in US retail by launching San Mateo, California-based 11 Main Inc. before its record 2014 IPO, only to sell the niche e-commerce site shortly after.
Sea has suffered a run of setbacks this year, including a sudden ban of its most popular mobile game in India. Its shares have plunged about 70% this year as investor appetite for growth stocks waned amid a global equity market downturn. Sea has said it plans to focus on Southeast Asia, Taiwan and Brazil rather than spending aggressively to enter new markets.
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