Lazada Group CEO Maximilian Bittner said that Lamido will merge with Rocket’s larger e-commerce entity Lazada, as there were growing overlaps in business.
“Over the last year, third party sales have become the dominant driver of Lazada’s sales explosion with the share of third party sales growing from less than 10 per cent, at the time of Lamido’s launch, to 75 per cent today, Bittner said.
“With the rapid growth of both Lazada and Lamido marketplaces, we have experienced an increasing overlap between the customer and seller bases across the two platforms,” he added, noting that Lamido was a Lazada venture originally set up in 2013 to separately offer a consumer marketplace platform.
Bittner added the merger will include all markets that Lamido and Lazada serve together, including Indonesia, Malaysia, the Philippines, and Vietnam. Lamido employees will also be integrated into Lazada.
Lazada is one of the more popular business-to-consumer e-commerce sites in all of Southeast Asia. In countries like Indonesia, Lamido competes with Tokopedia and BukaLapak.
Lamido has 2,500 active merchants registered on its marketplace to-date, who will be transferred over to Lazada.
Bittner said there were synergies between both marketplaces that made the integration a “natural step”.
“The integration will not only accelerate the expansion of our assortment, but also give our buyers and sellers a better experience. We believe the future is in a controlled marketplace like Lazada’s as consumers expect an effortless and reliable shopping experience,” he said.