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12 Mar '13, 11am

Zalora Gets $26 Million from Germany’s Tengelmann, Plans New Developer Base in Singapore

Zalora Gets $26 Million from Germany’s Tengelmann, Plans New Developer Base in Singapore

Original image credit: opensecrets.org Rocket Internet’s Southeast Asia-oriented online fashion shop Zalora announced today that it has received a cool US$26 million investment from German retail company Tengelmann Group. Christian Winter, the CEO of Tengelmann Ventures commented on this latest investment: We are confident that this is a synergistic and promising partnership given both our strengths in retail and the tremendous potential of the e-commerce market in Asia. Zalora’s success in the market, growth trajectory, management team and investor base speak volumes about how the company is fast becoming the undisputed leader for online fashion and beauty retail in many countries. The regional managing director of Zalora Southeast Asia Michele Ferrario said in today’s announcement that Tengelmann’s experience in retailing and e-commerce can help Zalora to achieve the top...

Full article: http://www.techinasia.com/zalora-26-million-germanys-teng...

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