25 Sep '12, 12pm

JP Morgan invests in #Zalora #Asia

JP Morgan invests in Rocket Internet again, this time in Zalora September 25, 2012 by Terence LEE Despite persistent rumors that Rocket Internet’s Zalora is struggling to gain firm footing in Asia, the fashion online retailer has announced today that JP Morgan Asset Management is investing in the company. The investment, rumored to be in the “significant double digit millions” , covers Zalora’s presence in five Southeast Asian countries (Malaysia, Philippines, Singapore, Taiwan, Thailand and Vietnam) as well as Hong Kong and Taiwan. The fresh injection of funds comes just 8 months after Zalora’s launch. It currently employs more than 1,000 employees and says it has achieved annualized double-digit million USD revenues. “Online retail holds tremendous potential in this market of more than half a billion customers, and we look forward to continued growth with our shareholder...

Full article: http://sgentrepreneurs.com/2012/09/25/jp-morgan-invests-i...

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