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Alibaba-Owned Lazada saw ‘Record’ Sales on Singles Day, its Singapore CEO say

SINGAPORE — Southeast Asian e-commerce firm Lazada saw a “record” number of sales on its platform during Singles Day, according to the company’s Singapore head.

Singles Day is typically a 24-hour shopping period that started in China and is also known as Double 11 since it happens on Nov. 11. Many retailers across Southeast Asia have since adopted the event, giving customers steep discounts and attractive promotions on the day.

“This year 11.11 yesterday, we had 40 million customers come into our app and more than 400,000 sellers transacting that day,” James Chang, CEO of Lazada Singapore, said on CNBC’s “Street Signs Asia” on Thursday. Read more…..

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Bill Gates, Chairman, Microsoft Corporation, speaks with Economic Club President David M. Rubenstein on March 8, 2011.

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