ZALORA secures €20 million investment from German retail giant
If you’re into online shopping, or want to try your hands on it, Zalora Philippines is primed to be the top online fashion and beauty retailer in the country as it has recently received a a €20 million investment from German retail giant Tengelmann Group.
Tengelmann is the latest blue-chip investor to support Zalora’s rapid growth and to help the company expand its already-strong position in leading Asia’s fashion and beauty e-commerce industry. It joins an impressive investor base counting Rocket Internet, J.P. Morgan Asset Management, Investment AB Kinnevik and Summit Partners, among others.
The 145-year-old Tengelmann Group is a household name in the European retail industry, operating over 4,000 stores in 15 different countries and employing more than 80,000 people. This latest investment from an industry stalwart recognizes both ZALORA’s phenomenal growth as well as its tremendous potential as an online retailer across South-East Asia, Hong Kong and Taiwan. This latest investment follows ZALORA’s successful launch of a mobile-optimized site that marked the beginning of the company’s expansion into mCommerce.
“We are very excited to join the ZALORA team,” Christian Winter, CEO of Tengelmann Ventures said, “We are confident that this is a synergistic and promising partnership given both our strengths in retail and the tremendous potential of the e-commerce market in Asia. ZALORA’s success in the market, growth trajectory, management team and investor base speak volumes about how the company is fast becoming the undisputed leader for online fashion and beauty retail in many countries.”
Paulo Campos, Managing Director of ZALORA PH commented, “Tengelmann’s long and successful experience in retailing and specifically e-commerce will prove useful for ZALORA as we cement our position as an e-commerce industry leader in fashion and beauty retail.”