Largest investment ever made into SEA e-fashion underscores strong growth perspective
SINGAPORE, 4th December 2013 – ZALORA Group , Southeast Asia’s fastest-growing fashion & 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 their 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 & beauty retailer offering more than 130,000 products and over 500 international brands.
Jörg Mohaupt, ZALORA Board Member from Access Industries, says: “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 & 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,” says 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.”
Patrick Schmidt, CEO of THE ICONIC, adds: “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 Groups 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.
About ZALORA Group
ZALORA Group, founded in late 2011, is Asia-Pacific’s leading online fashion destination.
With presence in Singapore, Indonesia, Malaysia, the Philippines, Thailand, Vietnam, Hong Kong and Brunei, ZALORA’s localized sites offer an extensive collection of over 500 top international and local brands and over 130,000 products across apparel, shoes, accessories, and beauty categories for men and women. ZALORA offers a 30-day free returns policy, speedy deliveries within 2-3 working days, free delivery over a certain spend, and multiple payment methods including cash-on-delivery.
THE ICONIC is Australia’s leading online fashion retailer where customers can choose from more than 500 brands and over 45,000 products. THE ICONIC sets the bar in Australian online retail, offering its customers free overnight shipping to Australia and New Zealand, 100 day free returns, and 3 hour delivery in Sydney. THE ICONIC was recently named Australia’s second most successful e-commerce site behind mature retail giant Big W by Inside Retail.
For more information, please visit www.zalora.com and www.theiconic.com.au.