Home / Knowledge / News / Apparel/Garments / Global Fashion Group raises €330mn in new funding round
Global Fashion Group raises €330mn in new funding round
26
Jul '16
Courtesy: Global fashion group
Courtesy: Global fashion group
Rocket Internet SE owned Global Fashion Group (GFG) announced a successful funding round of €330 million, which has been subscribed by existing investors.

Founded in 2014, GFG had initially decided to raise €300 million, which due to high demand, was subsequently raised to €330 million. The transaction values GFG at €1.0 billion, post the investment.

The company combines online fashion businesses of Dafiti in Latin America, Lamoda in Russia, Namshi in the Middle East, The Iconic in Australia, Jabong in India and Zalora in South-East Asia.

Rocket Internet has invested €68 million, which includes the conversion of an investment in a previous financing round and post this transaction, will take its direct and indirect stake in GFG to 20.4 per cent.

“GFG has successfully built its position as market leader in online fashion in many key emerging markets. This funding round provides GFG with the capital to continue on that path CEO of Rocket Internet, Oliver Samwer said. (AR)

Fibre2fashion News Desk - India

Must ReadView All

President Donald Trump; Courtesy: White House

Textiles | On 24th Jan 2017

US sets ball rolling for withdrawal from TPP

President Donald Trump has set the ball rolling for withdrawal of the ...

Textiles | On 24th Jan 2017

Indian cotton consumption estimated at 290 lakh bales: CAI

The domestic consumption of cotton during the crop season 2016-17...

Stefano Gallucci (left), CEO, Santex Rimar Group, and Tamer Hasbay, President, Has Group; Courtesy: Santex Rimar

Textiles | On 24th Jan 2017

Santex Rimar to market all Has products globally

Italy based Santex Rimar Group has signed an agreement with Turkey...

Interviews View All

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search