Tesco Acquires Stake in Southeast Asian Online Retailer Lazada
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Tesco Plc, the U.K.’s largest retailer, has bolstered its international presence online by acquiring a minority stake in Lazada, a seller of non-food goods to customers in southeast Asia.
The British grocer, which is strengthening its e-commerce capabilities while reining in spending on store expansion, has invested “tens of millions” of pounds in the online marketplace, Multichannel Director Robin Terrell said yesterday, declining to provide more details.