SINGAPORE: The rapid expansion of Sea Ltd’s Shopee e-commerce platform in Brazil has emerged as the latest threat for the country’s retailers, posing a risk to any recovery in their battered shares.
Retailers Americanas SA, Magazine Luiza SA and Via SA have all extended losses this year after slumping at least 58% in 2021, while an MSCI index for consumer-discretionary company shares trades near the lowest since 2004.
Already a subscriber? Log in
The Star Festive Promo: Get 35% OFF Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
