Alibaba denies talks to sell Lazada’s Thailand unit as it eyes continued global expansion

“Lazada Group is not considering any divestment of our business in Thailand and is not in discussion with any investors on this topic,” the company said in a statement. “Any rumours stating otherwise are untrue.”

The Bangkok Post on Thursday reported that Alibaba had been in talks with local conglomerates to sell its stake in the Thailand operations, citing anonymous sources.

The international group – which also consists of AliExpress, Trendyol and Daraz – recorded a 60 per cent year-on-year revenue increase in the financial year ended March. In its annual report, Alibaba attributed the rise mainly to growth in AliExpress, its international business-to-consumer platform, and Trendyol, a Turkey-based e-commerce platform.

The unit’s 2024 first-quarter revenue increased another 45 per cent year on year, the company said.

Lazada also managed to narrow losses per order in the last financial year owing to increased monetisation and lower logistics costs, according to Alibaba.