SINGAPORE (Aug 21): Synagie Corp, the e-commerce solutions provider, is set to provide brand store management services across Southeast Asia to online store giant Lazada.
On Tuesday, Synagie wholly-owned subsidiary BTFL and Lazada signed a memorandum of understanding (MOU) where Synagie will become a regional Lazada partner and provide services such as management, marketing and operations for selected brand stores. A brand store refers to the online avenues that companies operate on the Lazada platform.
With over 400,000 sellers and brands offering over 300 million stock-keeping units on Lazada, Synagie’s co-founder and executive director Olive Tai says the partnership will help both Synagie as well as its partners have greater market access and help accelerate their growth.
“We believe [this] will be a game changer for Southeast Asia’s e-commerce. Brands and businesses will be empowered with tools to help them ride the massive growth of e-commerce in the region”, says Tay.
Southeast Asia’s e-commerce market is on track to hit US$240 billion ($332 billion) by 2025, surpassing previous estimates by US$40 billion.
Apart from its existing and now extended collaboration with Lazada, which is controlled by the Alibaba Group of China, Synagie also manages the online operations of over 280 brands.
As at 10.54am, shares in Synagie are trading 0.9 cent or 5.6% higher at 17 cents.
