Daraz Group, one of the most popular online retail outlet in Pakistan. It is probably one of its own kind store which established itself online at such a large scale. The time, when other companies were still trying to understand the concept of online retailing. In accordance with the new report, it is revealed that the entire company Daraz has been taken over by Alibaba. This has been particularly achieved by acquiring all shares of Daraz. Yes! you heard it right that Alibaba bought all the shares of Daraz by Rocket Internet. This has further been confirmed by the company, Rocket Internet itself.
The brand, Daraz which got established in Pakistan in the year 2014 will continue to serve under its original brand name. Daraz also quoted that the company will be able to benefit from Alibaba’s skills and leadership. Since Alibaba has higher technological experience and has better know how of online commerce as well as payment methods. This will certainly act as an edge over the competitors and Daraz can benefit from it. Moreover, it is anticipated that Alibaba will be investing heavily in Daraz. They aim of Alibaba seem to establish itself strongly in the premises of Pakistan.