05 Apr '13, 3am

Zalora Taiwan to scale down, not shut down

Zalora Taiwan to scale down, not shut down April 5, 2013 by Terence LEE While rumors have been circulating about Zalora exiting Taiwan, Rocket Internet SEA’s co-founder Stefan Jung has clarified that the company will not shut down its operations. He explained the company’s position on stage at Startup Asia , a tech startup conference in Singapore. Instead, it will shift part of its operations to Singapore, and run its Taiwan company more as a remote business in a similar vein to its Hong Kong operations. According to Stefan, Rocket Internet’s macro view on Taiwan is not as strong as larger markets like Indonesia and China, which explains why Glossybox Taiwan, Rocket Internet’s Birchbox clone, has also exited from the country . He explains that for ventures that have received external funding (Zalora included), investors are usually involved in discussions about allocating ...

Full article: http://sgentrepreneurs.com/2013/04/05/zalora-taiwan-to-sc...

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