Lazada denies divestment plans in Thailand amid growing rumours

Lazada Group has firmly denied any plans for divestment in Thailand, asserting that there are no ongoing discussions with investors regarding such a move. A company spokesperson addressed the circulating rumours.

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

The company’s response comes amidst widespread speculation about potential changes in Lazada’s operations within the Thai market. Lazada, a prominent e-commerce platform in Southeast Asia, has been a significant player in Thailand’s online shopping sector, and any potential divestment would have substantial implications for the market.

Further details were not provided by Lazada, leaving the specific origins of these rumours unclear. The statement, however, aims to reassure stakeholders, customers, and employees of Lazada’s continued commitment to its Thai operations.

Lazada, part of the Alibaba Group, has been expanding its influence in Southeast Asia, leveraging Alibaba’s technological and logistical expertise. The company has garnered a substantial user base in Thailand, contributing to the country’s e-commerce growth. Any suggestion of divestment could have sparked concerns among users and partners about the future of their engagements with Lazada, reported Bangkok Post.

In related news, the TikTok Shop has taken a significant step by signing a memorandum of understanding (MoU) with Thailand’s Department of Business Development to boost the contribution of small and medium-sized enterprises (SMEs) to 40% of the GDP by 2027, up from the current 35%.

TikTok Live data from Thailand shows that in 2023, there were 700,000 Thai creators live streaming on the platform each month. Deputy Commerce Minister, Napintorn Srisunpang states his optimism regarding this move.

In other news, with the explosive growth of social media and e-commerce, the role of influencers has never been more prominent. Recognising the immense economic potential, the National Economic and Social Development Council calls for the Thai government to implement regulations and provide support for this burgeoning career path.