(Bloomberg) — SM Investments reached agreement to use platform of Rocket Internet’s Philippine unit Lazada to sell merchandise online, SM Vice Chairman Teresita Sy-Coson says in interview.
 
• SM, which owns Philippines’ biggest chain of retail stores and nation’s largest shopping mall builder, will initially     sell light-to-carry non-food items through Lazada and eventually could include home furnishings and appliances
• “The retail business is evolving,” Sy-Coson said. “It is important for a retailer to go online and it’s the right move to go with Lazada.”
• Lazada.com.ph, which has 7,000 merchants, is nation’s 6th most popular website, says Inanc Balci, chief executive at Lazada’s Philippine operations
• Philippine e-commerce market forecast to grow at compounded annual growth rate of 101% from 2013 to through 2018, driven by rising internet and social media penetration rate and effective Internet payment system, Ken Research says in 2014 report
• NOTE: SM starts e-commerce site, targets nationwide coverage in 2015 Link
• NOTE: Billionaire Sy Goes Online as Web Draws Shoppers Link