Southeast Asia and Australia’s online retail store Zalora, owned by Berlin (Germany) based Rocket Internet has has secured a US$112 million (SG$139 million) funding after receiving a funding of US$100 million in May this year. The fresh capital comes from privately held investor group Access Industries, funds managed by US-based asset management firm Scopia Capital Management and other institutional investors.
Although the economic growth is still slow in Indonesia and other parts of the region, Michele Ferrario, Managing Director, Zalora Group feels that the investors are still showing confidence in the market and looking beyond the medium-term of e-commerce in the region.
“The investment allows us to continue building out our position as the leading fashion and beauty e-commerce retailer in Southeast Asia,” said Ferrario.
“We are focused on offering the best possible customer experience paired with a unique product offering of local and international brands. 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,” he added.
Zalora, a fashion e-commerce offers local and international brand clothing, shoes and accessories in eight countries in Southeast Asia. Launched last year, the website is now in Brunei, Hong Kong, Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam.
Recently, Zalora launched its first private brand EZRA.
With the latest funding, Zalora has managed to get a US$212 million funding within six months, which augurs well for the region and speaks highly of the investor sentiment.