Vietnam’s e-commerce last-mile war: Why Ninja Van and LEX bowed out

[HO CHI MINH CITY] After years of breakneck expansion and intense competition, Vietnam’s e-commerce logistics sector appears to be entering a cold season of consolidation.

Two high-profile logistics players – Singapore-headquartered Ninja Van and, more recently, Flex Speed (LEX), the logistics arm formerly under Lazada – have exited Vietnam’s express and last-mile delivery services, respectively, within a span of six months.

Ninja Van’s Vietnam country head Yeung Kin Lok told The Business Times that “concentration risk” was one of the main challenges in Vietnam’s e-commerce logistics. The Singapore firm ceased its express delivery service – tied mostly to e-commerce platforms – in the country last September, ending a nearly decade-long presence in this segment.