Alibaba Targets $100 Billion Southeast Asian Commerce Business
- It’s aiming for a quintupling of GMV transactions on Lazada
- The Alibaba unit now lags Sea Ltd.’s Shopee in the region
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Alibaba Group Holding Ltd. has unveiled ambitious objectives for its Southeast Asian arm Lazada, accelerating an overseas expansion to offset Chinese economic and regulatory headwinds.
The Chinese e-commerce leader is targeting a long-term goal of quintupling gross merchandise value, the sum of transactions across Lazada’s platforms, to $100 billion, Alibaba outlined in a presentation to investors. It wants Lazada to serve more than 300 million users eventually, according to a slideshow posted on its website.