Following its successful launch of a mobile-optimized site, ZALORA, a leading fashion and beauty retailer (or e-tailer) in Asia has just received € 20 million investment from Tengelmann Group, a German retail company. This mobile-optimized site, marks ZALORA’s expansion into mCommerce, which also gives the company gain more popularity as well.
The investment from Tangelmann is to support ZALORA’s rapid growth by expanding its title as the Asia’s leading fashion and beauty e-commerce industry. Tengelmann is one of the investors to ZALORA which includes Rocket Internet, J.P. Morgan Asset Management, Investment AB Kinnevik and Summit Partners, among others.
The Tengelmann Group is a household name in the European retail industry. They have been around for 145 years and operates over 4,000 stores in 15 different countries and employing over 80,000 people. Tengelmann recognizes ZALORA’s potential in the industry within Asia particularly to Hong Kong, Taiwan, and countries in the South-East.
“Tengelmann’s long and successful experience in retailing and specifically ecommerce will prove useful for ZALORA as we cement our position as an ecommerce industry leader in fashion and beauty retail.”, said Michele Ferrario, Regional Managing Director of ZALORA SEA.
ZALORA was founded in early 2012, which marks the start of what is now Asia’s fastest-growing online fashion and beauty retailer. ZALORA operates its services on multiple countries which mostly includes Singapre, Indonesia, Malayia, the Philippines, Thailand, Vietnam, Hong Kong and Taiwan.
“After just a year of operation, the company has already achieved annualized double-digit million USD revenues and employs more than 1000 people in 8 countries.”
ZALORA’s sites are localized, which makes it more convenient to shop online. The sites offer a wide range of products which contains selections of over 500 top international and local brands and over 20,000 products. ZALORA also have delivery services and multiple payment methods are available when shopping online.