Jp morgan lazada press announcementDocument Transcript
For Immediate Release13 September 2012 J.P. Morgan Asset Management invests in LAZADA to fuel continued growth in Southeast AsiaLAZADA, the leading online department store in Southeast Asia, has confirmed an investmentby J.P. Morgan Asset Management, which will take a stake in LAZADA through its Germanholding.Following its parallel launch in five Southeast Asian countries during the spring of 2012, LAZADAhas become the fastest growing online department store in the region. Since then, LAZADA hassurpassed most established local and international competitors and according to web rankingsite Alexa.com it is already ranking among the top local B2C eCommerce sites in all of itsmarkets. This growth is a testament to the huge potential of this region with a population ofmore than 600 million people and a growing young middle-class which are embracing newonline experiences – ranging from eCommerce to social media – at an ever increasing pacethrough their mobile phones or other connected devices.With the support of Rocket Internet, the leading global online venture incubator (e.g. Zalando,Dafiti), LAZADA has already established itself as a household name in the region by providing aone-stop shopping experience online. With an unrivalled brand and product selection availableonline, LAZADA has developed a wide offering ranging from consumer electronics to householdgoods, toys and sports equipment. Today, approximately 1,000 employees are operatingstreamlined businesses with own logistics and distribution centers in Indonesia, Vietnam,Philippines, Thailand and Malaysia.“We feel very honoured to welcome J.P. Morgan to our investor group and are particularlyexcited to be joined by an investor that shares our vision and belief in the huge potential of thispopulous region replicating online shopping behaviours in developed countries”, regional CEOMaximilian Bittner commented. “This will further support our growth as we strive to offer all ofour customers fast, convenient and secure online shopping experiences”.J.P. Morgan Asset Management Portfolio Manager Robert Cousin, who worked on the dealfrom New York, confirmed the transaction, saying, “We are excited to partner with LAZADA as itcontinues to expand its eCommerce presence in Southeast Asia."
About Lazada (lazada.co.id, lazada.vn, lazada.com.my, lazada.com.ph, lazada.co.th)LAZADA is Southeast Asia’s fastest growing online department store, with operations inIndonesia, Vietnam, Malaysia, Philippines and Thailand. LAZADA is pioneering eCommerceacross some of the fastest growing countries in the world by offering a fast, secure andconvenient online shopping experience with a broad product offering in categories rangingfrom consumer electronics to household goods, toys and sports equipment. LAZADA is alwaysstriving to offer its customers the best possible offering – including multiple payment options,free returns and extensive customer service and warranty commitments.About J.P. Morgan Asset ManagementJ.P. Morgan Asset Management, with assets under supervision of approximately $2.0 trillionand assets under management of $1.3 trillion (as of June 30, 2012), is a global leader ininvestment management. J.P. Morgan Asset Management’s clients include institutions, retailinvestors and high-net worth individuals in every major market throughout the world. J.P.Morgan Asset Management offers global investment management in equities, fixed income,real estate, hedge funds, private equity and liquidity. JPMorgan Chase & Co. (NYSE: JPM), theparent company of J.P. Morgan Asset Management, is a leading global asset management firmwith assets of approximately $2.1 trillion and operations in more than 60 countries. Informationabout JPMorgan Chase & Co. is available at www.jpmorganchase.com.For all Media Enquiries:LAZADAStein JakobOeieP: +65 92 332 713E: email@example.com