Singaporean Fashion Website Zalora Raises $26 Million
Zalora is a Singaporean fashion website that is backed by Rocket Internet. Zalora has raised around 20 million euros ($26 million USD) from retail company Tengelmann Group. Zalora is working on building a regional software development center in Singapore to build mobile apps and develop their web platform.
This is not the first Rocket Internet company that Tengelmann has invested in. They also put money into Linio and Lazada. Zalora operates in Hong Kong, Taiwan, Singapore, Indonesia, Malaysia, Thailand, and Vietnam.
Zalora has hit annualized double-digit million revenues and they employ over 1,000 people. Tengelmann has over 4,000 stores across 15 different countries and annual revenues of over 10 billion euros.