Sea's Shopee to enter Mexico online market with app launch
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FILE PHOTO: A worker wipes the door of a car with the sign of Shopee, an Indonesian e-commerce platform, in Jakarta, Indonesia, February 5, 2021. REUTERS/Ajeng Dinar Ulfiana
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MEXICO CITY (Reuters) - Shopee, the e-commerce arm of Southeast Asia's Sea Ltd, has launched an app for Mexico, where it plans to offer online sales in what would be its second market in the Americas, a Reuters review showed on Monday.
Shopee, the largest e-commerce platform in Southeast Asia, according to market researchers, launched a small presence in Brazil in 2019 as a pilot initiative of its cross-border team, and has since been scaling up operations.
Although sources in January said the e-commerce arm was evaluating the potential of other Latin American markets, the company had not yet announced plans for other countries.
The expansion to Mexico, Latin America's second-largest economy, could mark a major new growth opportunity in cross-border sales, a market already explored by shopping app Wish.
According to a preview of the app on the Apple website in Mexico, Shopee will offer free shipping throughout Mexico, offering items including electronics, clothes, toys and home goods.
The description of the app says Shopee aims to offer a shopping platform similar to its existing ventures in southeast Asia and Taiwan.
"We have launched in Mexico to offer the same experience," the description says.
Shopee's Mexico website (shopee.com.mx) was not yet available, and it was not clear if the company had begun accepting orders.
Sea, a Singapore-headquartered technology group, was not immediately reachable for comment.
Shares in Sea surged more than 400% last year. On Monday, its market capitalisation reached $132.68 billion. It raised close to $3 billion in a stock offering in December.
(Reporting by Fanny Potkin in Singapore, Daina Beth Solomon in Mexico City; Editing by Lisa Shumaker)
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