Sea’s Shopee enters Mexico’s online market with app launch

MEXICO CITY (Reuters) – Shopee, the e-commerce arm of Sea Ltd in Southeast Asia, has launched an app for Mexico, where it plans to offer online sales in what would be its second largest market in the Americas, a Reuters review revealed on Monday. .

FILE PHOTO: A worker wipes a car door with the sign for Shopee, an Indonesian e-commerce platform, in Jakarta, Indonesia February 5, 2021. REUTERS / Ajeng Dinar Ulfiana

Shopee, Southeast Asia’s largest e-commerce platform, according to market research, launched a small presence in Brazil in 2019 as a pilot initiative of its cross-border team, and has since stepped up its operations.

Although sources said in January that the e-commerce arm is assessing the potential of other Latin American markets, the company has yet to announce plans for other countries.

The expansion into Mexico, Latin America’s second-largest economy, could mark another major growth opportunity in 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 throughout Mexico, offering items such as electronics, clothing, toys and household items.

The app description indicates that Shopee aims to offer a similar shopping platform to its existing businesses in Southeast Asia and Taiwan.

“We launched in Mexico to provide the same experience,” the description says.

Shopee’s website in Mexico (shopee.com.mx) was not yet available and it was not clear whether the company had started accepting orders.

Sea, a Singapore-based tech group, was not immediately available for comment.

Sea shares have jumped over 400% last year. On Monday, its market capitalization reached $ 132.68 billion. It raised nearly $ 3 billion in a stock offering in December.

Reporting by Fanny Potkin in Singapore, Daina Beth Solomon in Mexico; Editing by Lisa Shumaker