China's Alibaba sets $100 billion target for Southeast Asian e-commerce division

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SHANGHAI (Reuters) - Chinese e-commerce giant Alibaba has set a target for gross merchandise volume of $100 billion in gross merchandise volume (GMV), the total sum of purchasing transactions, for its Southeast Asian marketplace Lazada.
The goal, which was shared with investors on Thursday and later in a public online presentation, ups the ante for the company, which entered the region via acquisition in 2016 and competes fiercely with rivals.
Lazada generated $21 billion in GMV from September 2020 to the same month in 2021, according to the presentation. It also hopes to serve 300 million customers, roughly double its current count.
By comparison, Sea Ltd's Shopee, the market leader in the region, generated $35.4 billion in GMV for the full calendar 2020 year.
The division ranks itself the third-top ...


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