Southeast Asia’s online fashion retailer ZALORA Group has secured USD112 million in a new round of funding, the largest investment ever made into a pureplay online retailer in the region.
The fresh capital represents the largest single investment ever made into a online fashion retailer in the region 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.
Founded only in 2012, ZALORA is offering more than 130,000 products and over 500 international brands in its e-commerce sites. The company operates in eight countries – Singapore, Malaysia, Hong Kong, Philippines, Vietnam, Indonesia, Brunei and Thailand – and has a huge selection of top international fashion and beauty brands, which were previously only available in capital cities.
Also part of the Zalora Group is THE ICONIC, Australia’s number one online fashion retailer. Most recently, it also 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 said the new capital will support ZALORA Groups efforts to scale up operations and gain an even stronger foothold throughout Southeast Asia and Australia, serving 600 million potential online shopping customers in the region.
In an interview with RetailTech Innovation in September, Harry Markl, Regional Managing Director, ZALORA Southeast Asia, said that ZALORA would like to stick to its pure-play e-tail strategy.