Central Group to buy Zalora’s businesses in Thailand and Vietnam
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Central Group is set to buy Zalora’s businesses in Thailand and Vietnam, according to reports.
Zalora is a fashion-focused e-commerce site.
Central Group’s assets, which include multiple shopping malls and national department store chains, are worth close to $10 billion and it employs some 70,000 people.
The deal to buy the country businesses from Zalora will cost Central Group around $10 million each, reported TechCrunch.
Sources close to Zalora suggest that the company is selling the businesses in an effort to streamline its costs and move towards becoming profitable.
Even though Zalora was only started four years ago, the company claims 10 million people have downloaded its mobile apps and the company makes 1.4 million transactions per year across 10 countries in Asia-Pacific.
Questions & Answers
Q.What is Central Group buying from Zalora?
What is Central Group buying from Zalora?
Central Group is set to buy Zalora's e-commerce businesses operating in Thailand and Vietnam. Zalora specialises in fashion-focused online sales.
Q.What is the reported cost for Central Group to acquire these businesses?
What is the reported cost for Central Group to acquire these businesses?
The deal to buy the country businesses from Zalora will reportedly cost Central Group approximately $10 million for each of the two operations.
Q.Why is Zalora reportedly selling these businesses?
Why is Zalora reportedly selling these businesses?
Sources close to Zalora suggest the company is selling these businesses to help streamline its costs. This move is reportedly part of an effort to become profitable.
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