Not content with its already lucrative home market of Southeast Asia, Sea Limited (NYSE: SE) is embarking on a big expansion.
Following recent confirmation that it will soon be entering India, reports have now emerged that the e-commerce and gaming giant has set its sights on Europe too.
Can Sea Limited crack Europe?
One might think that the might Amazon empire dominates the e-commerce market.
But it’s a big world, and like the Empire in ‘Star Wars’, Amazon can’t have everything. This is why Sea Limited entered Latin America last year with moderate success. It will hope to replicate this as it dips its toe into India — a market of 1.3 billion people with a rapidly growing internet-using population.
But it’s not stopping there, as reports have emerged from local sources that Sea Limited’s e-commerce arm, Shopee, is setting up shop in the EU, or more specifically, Poland.
This move would make sense, as according to the market research firm, Euromonitor, the Polish e-commerce market is worth €16 billion ($19 billion), with significant room for growth compared to other Western countries.
What’s more, Sea Limited’s gaming arm, Garena, already has a presence in the region, meaning that the firm is certainly not going in blind.
While the reports have not been confirmed, these moves represent a massive opportunity for Sea Limited in the midst of a massive global shift towards e-commerce — an industry that is expected to reach a value of $16.2 trillion globally by 2027, growing at a CAGR of 22.9% during that time.
There’s plenty of room for everyone if those figures are to be believed, and by testing the waters, Sea Limited could establish itself in key markets without becoming overextended.
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