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Lazada acquires Redmart which will continue to operate independently

Benjamin Cher Published on Wed, Nov 02, 2016 / 4:33 PM GMT+8

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SINGAPORE (Nov 2): Alibaba unit Lazada on Wednesday signed an agreement to acquire online grocer Redmart for an undisclosed amount.

Redmart will operate independently after the acquisition under the current management, according to a joint statement.

This acquisition will allow Redmart to expand its product offerings as well as tap into Lazada’s third-party service providers and technology resources. Lazada will be able to tap into Redmart’s fulfilment capabilities in Singapore.

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