Fashion E-Commerce Company ZALORA Raises $100 Million
ZALORA is an fashion e-commerce company based in South East Asia that has raised $100 million in funding. ZALORA was incubated at Germany-based startup accelerator Rocket Internet. Investors in this round include Rocket Internet, Summit Partners, Kinnevik, Verlinvest, and Tengelmann Group. The company previously raised $26 million in funding in March 2012.
The investment from Tengelmann Group is strategic since that company is one of the largest European retail companies with 4,000 stores in 15 countries and employing around 80,000 people. Tengelmann sees around 10 billion euros in turnover according to TheNextWeb.
ZALORA recently delivered their one millionth order after launching one year ago. ZALORA operates in 9 countries: Singapore, Indonesia, Malaysia, Brunei, the Philippines, Thailand, Vietnam, Taiwan, and Hong Kong. The company has products from 500 local and international brands and employs 1,000 people. ZALORA has been using the funding to increase their presence in more countries and invest in their logistics. The company also recently launched an iOS app.
The company does not disclose how much in revenue they are generating, but it is in the “double-digit million USD.” Mobile sales make up around 25% of the total.
“Our company is one of the fastest growing e-commerce companies in South-East Asia and has bright prospects,” stated ZALORA Managing Director Michele Ferrario. “It is an honor for us that investors of such great repute have invested into an e-commerce company as young as ZALORA. Our goal is to continue serving up world-class products and services, so everyone in South-East Asia can benefit.”