2014 revenue increases five-fold.
E-commerce website Lazada's revenue for 2014 reached VND524.5 billion ($24.4 million), or a five-fold increase against 2013 and double the average growth in the market.
March marks its 3rd anniversary of operations in Vietnam, notching up half a million customers in the process with more than 200 million hits and leading Vietnam's e-commerce sector, according to CEO of Lazada Vietnam, Mr. Alexandre Dardy. In 2014 it sold 300,000 items and had over 1,500 individual vendors.
The Vietnam E-commerce and Information Technology Agency (VECITA) under the Ministry of Industry and Trade, reported recently that Lazada in Vietnam overcame 216 other e-commerce websites available in the country during 2014 to record the highest revenue, accounting for 31.6 per cent of the total.
Behind Lazada came Sendo, Zalora, Tiki and Ebay, with market shares of 14.4, 7.2, 5.4, and 3.6 per cent, respectively.
The VECITA report also revealed that total revenue last year of e-commerce websites reached VND1.66 billion ($74.49 million), doubling the result in 2013.
As at the end of last year the Lazada Group had invested up to 200 million euros ($213.4 million) to develop six markets in ASEAN: Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam.
Mr. Dardy also predicted that goods delivery would be a major challenge for e-commerce businesses in the time to come. The company has built warehouses in Hanoi and Ho Chi Minh City and trained shipping teams throughout the country in order to meet the significant growth in purchases.
Besides having partners in goods supply, Lazada has its own fashion brand, LZD, whose products are designed and manufactured in China. The company is planning to identify Vietnamese partners to make fashion items for the both the domestic and international markets.