Brazilian media said on Tuesday that Singaporean e-commerce platform Shopee, which is owned by Sea Ltd, has constructed five new distribution facilities there recently in an effort to speed up shipments and reduce wait times.
Since its inception in Brazil in 2019, Shopee has grown to be one of the most popular e-commerce applications there, luring people to its inexpensive marketplace.
The new locations are situated in the cities of Sao Joao do Meriti, Campinas, Ribeirao Preto, Contagem, and Santana do Parnaiba, the firm informed Valor.
According to the research, Shopee sells a lot of low-priced goods, which results in a daily turnover of thousands of items and calls for a strong delivery network.
Due to the company’s main e-commerce operations and digital payments business’ success, it achieved better-than-expected quarterly sales and a smaller-than-expected quarterly loss in the middle of May.
Following a stratospheric rise in 2020 and part of 2021 that included numerous quarters of triple-digit revenue growth and expansion into other areas including Mexico, Spain, and South Korea, Sea’s growth slowed as the pandemic-driven boom in e-commerce and digital entertainment waned.
The business announced its exit from France and India in March, and as supply chain problems and increased expenses compounded the situation, Sea shares fell by 70% this year.
