Home / Knowledge / News / Apparel/Garments / iFashion Group acquires lifestyle marketplace Megafash
iFashion Group acquires lifestyle marketplace Megafash
Feb '17
iFashion Group, leading online fashion and lifestyle group in Southeast Asia, has acquired Megafash, Singapore’s prime lifestyle marketplace for S$3.15 million (approximately $2.23 million), in a cash and shares deal. The acquisition strengthens iFashion’s portfolio and paves the way in securing an IPO along with expanding its product offering.

iFashion Group plans to file for an IPO at the end of April/May. With the acquisition of Megafash, iFashion marks their expansion into the lifestyle sector, bringing them one step closer to becoming a leading online fashion and lifestyle retailer in Southeast Asia. Moreover, the four brands (Megafash, Invade, Dressabelle and Nose) under the iFashion Group work in great synergy.

iFashion Group has also appointed Dressabelle’s Jeremy Khoo as the new CEO. Khoo will be responsible for driving the company to the next level, building on the solid foundation and momentum achieved by iFashion Group’s management team under its founders and directors, Lau Kin-Wai and Douglas Gan.

“I am excited to have Megafash come on-board iFashion. Jiawen and team performed tremendously well, especially during trying times for the retail sector last year to emerge registering profitable multi-fold growth. iFashion is growing in strength and talent pool and we are moving towards our goal of becoming Southeast Asia's leading online fashion retailer rapidly. I am very pleased with the integration of assets and brands within the group,” said Khoo.

“The brand (Megafash) has grown significantly, from 3 stores in 2015 to 7 stores currently. In times of economic downtown, we are pleased to say that our revenue grew five times from 2015. In December we received as many as 2,000 orders a day. As part of the expansion plans, we are looking to expand our operations overseas and to double our retail outlets in Singapore,” said Jiawen Ngeow, CEO and co-founder, Megafash.

“Our acquisition of Megafash completes our line-up of brands for our IPO. We believe that the acquisition strengthens the iFashion group by extending our offerings from mainly fashion products to lifestyle. In the recent months, iFashion has seen continued growth and change, including the appointment of our new CEO,” said Jeneen Goh, Vice President of Corporate Affairs, iFashion Group.

Dressabelle and Megafash share common functions and enjoy economies of scale such as logistic services, accounting, marketing functions and preferred rental rates at retail malls. While Invade, provides opportunities for the brands to secure prime locations for pop-up spaces, flea markets and permanent retail spaces.

Megafash has a strong presence in physical and e-commerce platform with 7 stores. Megafash’s aptitude in creating a creative and entertaining shopping destination both online and offline resonates well with the consumers. Megafash continues to generate profit and revenue even in trying times. Their annualised revenue for 2016 is reported to be S$8 million. (KD)

Fibre2Fashion News Desk – India

Must ReadView All

Pic: Shutterstock

Textiles | On 25th Jan 2022

New US legislation to fix import loophole, boost oversight unveiled

Earl Blumenauer, chairman of the US House of Representatives ways and ...

Pic: Shutterstock

Apparel/Garments | On 25th Jan 2022

China’s garment industry earned $209 bn in revenue in Jan-Nov 2021

About 12,659 garment companies of China earned a combined operating...

Pic: Shutterstock

Apparel/Garments | On 25th Jan 2022

AmCham says RCEP aligns with economic reforms in Philippines

AmCham Philippines has joined the call for the immediate concurrence...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Strongly believe in 'people first' policy.

Footwear Industry, Footwear Retailers

Footwear Industry
Footwear Retailers

Still struggling to mop up higher sales

Textile Industry, Head honchos

Textile Industry
Head honchos

Luxury is not just about high prices but ability to create desire

J Vargas,

J Vargas

With a vision to be the world's top tier textile manufacturer, Badjatex...

Kriti Kanodia,

Kriti Kanodia

A TV show in 2012 where actor Sonam Kapoor customises her own pair of...

Vikash & Vishal Pacheriwal,

Vikash & Vishal Pacheriwal

Launched in 2018, Raisin is a contemporary fusion fashion brand that aims...

 Natacha Defeche, Edana

Natacha Defeche

Since 1971, EDANA, the International association serving the nonwovens and ...

Christopher Astley, INDA

Christopher Astley

<font face="Arial, sans-serif"><span style="font-size: 16px;">INDA,...

Michaela Griggs & Peggy Schulz, Barco Uniforms

Michaela Griggs & Peggy Schulz
Barco Uniforms

Founded in 1929, Barco Uniforms started as an apparel company for beauty...

Vidur Adlakha & Riccardo Bennidini, La Fuori

Vidur Adlakha & Riccardo Bennidini
La Fuori

With an active presence in US, Italy and India, clothing brand La Fuori...

Seema Gujral, Label Seema Gujral

Seema Gujral
Label Seema Gujral

<b>Seema Gujral</b>'s designs for her eponymous label revolve around...

Anjali Bhaskar, Samatvam

Anjali Bhaskar

Samatvam, a womenswear brand that blends age-old craftsmanship with modern ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments


H;&M Hennes ;& Mauritz (Far East) Ltd
Esprit Europe Services GmbH
Page Industries Limited (Bangalore)
International Textile Manufacturers Federation
Lululemon Athletica Inc
Landmark Group
Brandix Lanka Limited
Aquarelle Clothing Limited
Under Armour Global Sourcing Ltd
Gloria Jeans
Rayonese Textile Inc., Division de Culp Inc.
Chori Company Limited
LC Waikiki
PVH Corporation
Phong Phu international JSC (PPJ)
Tory Burch Hong Kong Ltd
Guess Europe Sagl,
Hela Clothing Pvt Ltd
Huntsman (Singapore) Pte Ltd
Midas Clothing Limited
Sportmaster Ltd.
Cat Tuong Real Estate Group Joint Stock Company
Restoque S.A.
J ;& P Coats
Benetton Group
Amazon China
Rosset ;& Cia Limited
Sateri (Jiujiang) Fiber Co.,Ltd
Deckers Outdoor (Guangzhou) Consultant Co., LTD.
Lisa S.P.A.
Lacoste (Wanchai)
Grasim Industries Limited
IDH – The Sustainable Trade Initiative
C;&A Sourcing International Ltd
Seasalt Limited
Reiter India Private Limited
Recron Polyester from Reliance Industries Limited
Alison Hayes Romania
Helly Hansen Far East Ltd
Sainsbury's Argos Asia Limited
Truetzschler India Private Limited
OVS Hong Kong Sourcing Ltd.
Calvin Klein
Aramark Uniform ;& Career Apparel, LLC
Desigual - ABASIC, S.A.
T.T. Limited
NITI Aayog
G-Star Raw C.V.
Gap International Sourcing Limited
Vianney Textil Hogar S.A. De C.V.
Varner AS Retail
Hirdaramani International Export Private Limited
SHAHI Exports Pvt Ltd
Lenzing Aktiengesellschaft
KAS Direct Sourcing
Vardhman Textile Ltd
Sportswear Company Spa
Target Corporation (MN)
Tchibo GmbH
Maceton Limited
John Varvatos
Tommy Hilfiger
The LYCRA Company Singapore  Pte. Ltd
Arvind Limited
Eastman Chemical Company
Groz-Beckert East Asia LLP
Gatsby Africa
Etam Group Strategy Hong Kong Limited
Gokaldas Exports Limited
Chico’ FAS
IKEA of Sweden AB
MAS Active / MAS Kreeda / MAS Bodyline
Boardriders Asia Sourcing Limited

January 2022

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

Advanced Search