Daraz Plans to Invest Tk 1,000 Crore in 3-4 Years

 

Daraz plans to invest Tk 1,000 crore in Bangladesh in the following 3-4 years to increase its activity by building framework and ecosystem, the Alibaba Group-backed e-commerce venture said on 24 August, 2022. Bjarke Mikkelsen, pioneer and CEO of Daraz Group, declared the arrangement denoting the e-commerce company's eight years of activity in Bangladesh.

In 2014, Daraz started its excursion in Bangladesh with only five workers and a website. The web-based business platform has now 7 million customers, 41,000 merchants and various accomplices and partners.

The revelation comes when 1,800 web-based platforms are working in Bangladesh to take care of the developing interest for web-based shopping. Industry administrators said yearly almost Tk 7,000 crore worth of items are sold through e-commerce firms in Bangladesh.

"With more than 50,000 merchant accomplices, we have extended the skyline for e-commerce ventures across the country and empowered businesses while transforming consumer ways of behaving. The obtaining by Alibaba assumed a significant part behind this strength of our own," said Syed Mostahidal Hoq, MD of Daraz Bangladesh, at a celebration ceremony at InterContinental in Dhaka on 24the August.

"Presently, the web-based business sector in Bangladesh contains just 1-2 per cent portion of the country's retail deals. Throughout the previous seven years, Daraz has been educating the market to impact buyer conduct to grow the e-commerce services around the country and contribute to the economy."

Wholesale and retail trade represents 15% of Bangladesh's GDP of $465 billion assessed in 2021-22 the monetary year, as per information of the Bangladesh Bureau of Statistics.

VIPs of Daraz, including Md Riyad Hossain, CCO; Zornica Zafirova, group COO; Tasfin Alam Khondoker, COO; AHM Hasinul Quddus Rusho, CCA, and Shabbir Hossain, Chief Human Resource Officer, were additionally present at the occasion.