Lazada is Southeast Asia’s number one online shopping and selling destination, with presence in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. Launched in March 2012, Lazada is pioneering e-commerce in the region by providing customers with an effortless shopping experience with multiple payment methods, including cash-ondelivery, extensive customer care and free returns. Lazada features a wide product offering in categories ranging from consumer electronics to household goods, toys, fashion and sports equipment.
Lazada offers brands and merchants a marketplace solution with simple and direct access to about 560 million consumers in six countries through one retail channel. In view of Lazada’s undeniable potential, Alibaba1 invested US$1bn into the company in 2016. Lazada has built a successful e-commerce platform that is easily accessible to SME retailers, who are seeking to expand their offerings online but lack the scale or experience to do so with approximately 12,000 sellers on board in Malaysia, Lazada is supporting the growth of Malaysian SMEs through hassle-free fulfilment services, e-commerce trainings as well as marketing and analytical support.
This has vastly increased the value add of SMEs in the retail subsector, who previously might not have had the resources and reach of an MNC in selling their wares. In June 2016, Lazada Malaysia signed a partnership with CIMB Bank Bhd to offer enterprise clean loans (ECLs) to Lazada merchants to further support the expansion of local SMEs and raise productivity. Under this scheme, financing of up to RM300,000 per company is offered with a loan tenure of up to five years. These customised ECLs have a rapid turnaround, offering a 48-hour approval timeline with the loan disbursed within 24 hours upon full document execution, giving SMEs faster and easier access to the funds they need to fuel their business growth.
Source: www.lazada.com and www.cimb.com.