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REPEAT-Sea's Shopee to enter Mexico online market with app launch

·1-min read

(Repeats story from Monday to additional subscribers with nochanges to text)

MEXICO CITY, Feb 22 (Reuters) - Shopee, the e-commerce armof Southeast Asia's Sea Ltd, has launched an app forMexico, where it plans to offer online sales in what would beits second market in the Americas, a Reuters review showed onMonday.

Shopee, the largest e-commerce platform in Southeast Asia,according to market researchers, launched a small presence inBrazil in 2019 as a pilot initiative of its cross-border team,and has since been scaling up operations.

Although sources in January said the e-commerce arm wasevaluating the potential of other Latin American markets, thecompany had not yet announced plans for other countries.

The expansion to Mexico, Latin America's second-largesteconomy, could mark a major new growth opportunity incross-border sales, a market already explored by shopping appWish.

According to a preview of the app on the Apple website inMexico, Shopee will offer free shipping throughout Mexico,offering items including electronics, clothes, toys and homegoods.

The description of the app says Shopee aims to offer ashopping platform similar to its existing ventures in southeastAsia and Taiwan.

"We have launched in Mexico to offer the same experience,"the description says.

Shopee's Mexico website (shopee.com.mx) was not yetavailable, and it was not clear if the company had begunaccepting orders.

Sea, a Singapore-headquartered technology group, was notimmediately reachable for comment.

Shares in Sea surged more than 400% last year. On Monday,its market capitalisation reached $132.68 billion. It raisedclose to $3 billion in a stock offering in December.

(Reporting by Fanny Potkin in Singapore, Daina Beth Solomon inMexico City; Editing by Lisa Shumaker)