Friday, July 22, 2016

The fashion company closes financing round – received over 3 billion – Business Week

Swedish Kinnevik is one of the major owners.

the global e-commerce global Fashion Group, GFG, has closed a financing round of $ 364 million, equivalent to just over 3.1 billion. The company is part-owned by the Swedish Kinnevik, which owns 26 percent of the company (on June 30).

‘equity stood existing owner Rocket Internet who went in with $ 75 million, while the remaining capital boost from its investment Rocket Internet Capital partners, writes Tech in Asia. GFG’s new valuation amounts to $ 1.1 billion for the financing round.

Round was carried out in view of the precarious situation that many of GFG’s holdings are, primarily Zalora and sales current Jabong. Rocket Internet’s latest report indicated that both companies’ counters are on the way to her.

Rocket Internet’s direct and indirect ownership will after the transaction amount to 20.4 percent, said GFG.

GFG’s portfolio consists of the e-boutiques: Jabong in India, Zalora in Southeast Asia, Namshi in the Middle east, the Iconic Australia, Dafiti in Latin America and Lamoda in Russia and Eastern Europe.

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