Lazada Online has become one of the shopping forces to reckon with in Southeast Asia, now it has gone bigger. Tengelmann, a German retail group, has invested an "eight digit Euro investement" to the online vendor which will eventually improve their selections and services.
“We are very excited to join the LAZADA team,” Christian Winter, CEO of Tengelmann Ventures stressed, “their growth trajectory, management team and investor base speak for themselves and we are confident that the company will succeed in the long-run.”
With that, Maximilian Bittner, Regional CEO of LAZADA said that they will offer significant retail experience for their customers.
The funding is undisclosed as of the moment but we're pretty sure that this'll benefit shoppers as online stores become a trend in the country nowadays.