Daraz, a leading online marketplace in the country and a subsidiary of Alibaba Group, will invest Tk 5.0 billion in Bangladesh by 2021 to make the e-commerce experience more congenial for the customers.
The majority of the investment money will be spent on improving the company's logistical infrastructure, including its own 200,000 square feet warehouse and 1,050,000 square feet sorting centre, said a statement.
The investment aims to improve the customer experience through quicker product delivery.
Besides, Daraz plans to reach all 64 districts of Bangladesh with more than 150 hubs by the end of this year. A portion of the investment will also go into creating entrepreneurs (e-commerce merchants) through projects like Nandini, Daraz Store, Daraz Village etc.
Daraz has been providing its services in different parts of the country for the last five years. The e-commerce marketplace helps millions of Bangladeshis to purchase products online in the comfort of their home.