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Online fashion destination Global Fashion Group (GFG) has appointed co-CEOs, who will take up their roles on February 1. Patrick Schmidt and Christoph Barchewitz will be responsible for the overall strategic and working development of GFG, working with the…
Is Zalora Indonesia for sale? Fresh after selling off a chunk of the Philippines business, Rocket denies further Asian withdrawal. Last week, Ayala announced it will buy 43.3 per cent ownership in Zalora manager BF Jade E-Service Philippines for an…
The Lazada and Zalora parent is paring back its losses after divesting operations in two markets. With operating losses nearly halved and excluding disposals in India and Southeast Asia, Global Fashion Group (GFG) has reported a 36.3 per cent rise in net…
Investors have injected US$339 million lifeline into GFG, which owns the struggling Rocket Internet fashion websites. Rocket Internet and others have sunk the euro 300 million into its Global Fashion Group, raising GFG’s valuation to €1 billion – which is…
Rocket Internet is selling its Zalora Thailand and Vietnam eCommerce fashion sites. This follows the Alibaba Group investing in Rocket Internet’s Lazada, valued at US$1.5 billion. Zalora, which raised more than $250 million, was once on an equal footing with…
