News: Sea’s Shopee to enter Mexico online market with app launch.
MEXICO CITY (Reuters) – Shopee, Sea Ltd’s Southeast Asia e-commerce arm, has launched an app for Mexico to offer online sales in the American Second Market. This was the result of a Reuters study on Monday.
According to market researchers, Shopee, the largest e-commerce platform in Southeast Asia, launched a small presence in Brazil in 2019 as a pilot initiative of its cross-border team and has since expanded operations.
Although sources said in January the e-commerce branch was evaluating the potential of other Latin American markets, the company hadn’t announced any plans for other countries.
The expansion into Mexico, Latin America’s second largest economy, could represent a significant new growth opportunity for cross-border sales, a market already explored by the Wish shopping app.
According to a preview of the app on Apple’s Mexico website, Shopee will offer free shipping across Mexico, selling items like electronics, clothing, toys, and housewares.
The description of the app says that Shopee wants to offer a shopping platform that is similar to the existing ventures in Southeast Asia and Taiwan.
“We started in Mexico to offer the same experience,” says the description.
Shopee’s Mexico website (shopee.com.mx) was not yet available, and it was not clear if the company had started taking orders.
Sea, a technology company headquartered in Singapore, was not immediately available for comments.
Sea shares rose more than 400% over the past year. On Monday, the market capitalization reached $ 132.68 billion. In December, a stock offering raised nearly $ 3 billion.
Reporting by Fanny Potkin in Singapore, Daina Beth Solomon in Mexico City; Editing by Lisa Shumaker
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