Breaking own SEA funding record: USD112M for Zalora Group-A A +A
Wednesday, December 4, 2013
SINGAPORE -- Zalora Group, Southeast Asia’s fastest growing fashion and beauty online store, has secured a USD112 million (SGD139 million) round of funding.
The fresh capital represents the largest single investment ever made into a SEA online fashion retailer and comes from privately held investor group Access Industries, funds managed by US-based asset management firm Scopia Capital Management LLC and other institutional investors.
Thereby, Zalora breaks its own record set in May 2013 with a then funding round of USD100 million. Also part of the Zalora Group is The Iconic, Australia’s number one online fashion retailer.
This new round of funding signals investors’ strong confidence in the online retailer after a period of ongoing accelerated growth. Since its inception in 2012, Zalora has grown to be Southeast Asia’s leading online fashion and beauty retailer offering more than 130,000 products and over 500 international brands.
Jörg Mohaupt, Zalora board member from Access Industries, said: “Zalora’s experienced management team has put the company on a path to become a premier online fashion destination. We are pleased to be part of this dynamic success story.”
Most recently, Zalora launched its first private brand Ezra and focused on extending its assortment to offer the broadest variety possible of fashion and beauty items.
The company operates in eight countries and delights its customers with a huge selection of top international fashion and beauty brands, which were previously only available in capital cities.
“The investment allows us to continue building out our position as the leading fashion and beauty e-commerce retailer in Southeast Asia,” said Michele Ferrario, managing director of the Zalora Group.
“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,” she added.
Patrick Schmidt, CEO of The Iconic, said: “Zalora Group and The Iconic already have come a long way. In Australia, we are approaching one million orders being shipped, thanks to a fantastic local and international brand assortment and premium services such as 3 hour delivery in Sydney. 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.”
The new capital will support Zalora Group’s 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. (PR)