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Rocket Internet-backed Zalora Group secures massive $112-million fund
Rocket Internet’s Zalora Group which is considered one of Southeast Asia’s fastest-growing fashion & beauty online stores, has today announced it secured US$112-million of funding. This means that Zalora Group has broken its own record set in May this year when it scooped up a massive US$100-million.
The company further notes that the capital from Access Industries and managed by US-based asset management firm Scopia Capital Management LLC is thus the largest ever made into a Southeast Asian online fashion retailer.
With its headquarters based in Singapore and operating in eight other markets including Indonesia, Malaysia, the Philippines, Thailand, Vietnam, Hong Kong and Brunei, the company also has a strong presence in Australia with The Iconic branch said to be the country’s “number one online fashion retailer.”
According to Iconic CEO Patrick Schmidt, the company is approaching a massive one million orders being shipped thanks to a the local and international brand assortment and services such as three hour delivery in Sydney.
Schmidt also notes, “This investment will allow us to continue to build the one-stop online shopping destination for fashion, footwear and beyond through a singular focus on customer satisfaction.”
Managing Director of the Zalora Group Michele Ferrario says that the investment will efforts to scale up operations and gain an even stronger foothold throughout South-East Asia and Australia, serving 600 million potential online shopping customers in the region:
“We will use this new investment to improve our position as the high-street fashion authority in Southeast Asia. We will grow our assortment and further enhance the portfolio of our private labels. Our goal is to continue serving up world-class products and services, so everyone in South-East Asia can benefit from the wide selection of products at ZALORA.”
Indicators of success such as the fact that since its inception in 2012, Zalora has grown to become one of Southeast Asia’s leading online fashion & beauty retailers and currently offers more than 130,000 products and over 500 international brands.
Image via ElizaBeauty