Share Investment & Property holder CapitaLand on Wednesday announced two separate agreements with e-commerce leaders Alibaba Group and Lazada Singapore.
First, CapitaLand has inked a deal to manage the Alibaba Shanghai Center in China.
Alibaba’s new Shanghai headquarters comprises four office towers and a retail podium, spanning a total of 80,000 sq m.
Under the contract with Alibaba, CapitaLand will oversee the pre-opening and management of the shopping podium and one of the four office towers.
“Shanghai is one of the important platforms to Alibaba and our new headquarters here will serve as our strategic nerve center for rolling out our New Retail strategy,” says Wang Tao, head of Intelligent Building at Alibaba Group.
“We believe our collaboration (with CapitaLand) will chart new frontiers in integrating online, offline, logistics and data across a single value chain to meet the needs of consumers,” Wang adds.
Next, CapitaLand says it has signed an agreement to launch an exclusive online mall on Lazada Singapore.
The shop-in-shop will aggregate the offerings of retailers in its Singapore malls on Lazada.SG by the end of this year.
As a start, CapitaLand will roll out two unmanned click-and-collect lounges at Plaza Singapura and Bugis+ for shoppers to collect and return their parcels.
In addition to collection lockers, the lounges will feature fitting rooms and a product-testing bench to enhance the overall shopping experience.
“As more and more shoppers make purchases both offline and online, we recognise that Omni-channel retailing is the way to go for our retailers to maximise their reach and market share,” says Jason Leow, CEO of CapitaLand Mall Asia.
“By combining our in-mall and digital marketing capability with Lazada’s online assets, our retailers will enjoy comprehensive marketing support in the physical and digital space and get a leg-up in their e-commerce operations,” he adds.
“Even as new technologies disrupt traditional business models, real estate remains an important part of a holistic customer journey, as affirmed by leading digital players who are seeking to gain a foothold in the physical space,” says CapitaLand president and group CEO Lim Ming Yan.
“CapitaLand is excited to collaborate with leading Digital economy players like Alibaba and Lazada on this transformational journey and we look forward to creating win-win outcomes for all parties,” Lim says.
Shares in CapitaLand closed at $3.73 on Tuesday.
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