Global Fashion Group raises
EUR 330 million in Funding Round
- Global Fashion Group has successfully raised EUR 330 million from existing investors
- Rocket Internet invested EUR 68 million
- Post the funding round, Rocket Internet holds a stake of 20.4% in GFG
Berlin, Germany, July 22, 2016 - Today, Global Fashion Group ("GFG") announced a successful funding round of EUR 330 million, which has been subscribed by existing investors including Rocket Internet SE ("Rocket Internet") and the Rocket Internet Capital Partners fund ("RICP"). Due to high demand, the initial underwritten minimum capital raising of EUR 300 million was increased to EUR 330 million. Founded in 2014, GFG is one of the leading online Fashion businesses in emerging markets. It combines six leading regional online Fashion businesses, Dafiti in Latin America, Lamoda in Russia and GUS, Namshi in the Middle East, The Iconic in Australia, Jabong in India and Zalora in South-East Asia.
Rocket Internet has invested EUR 68 million including the conversion of an investment in a previous financing round and excluding any commitment from RICP. The transaction values GFG at EUR 1.0 billion post the investment. Rocket Internet's direct and indirect stake after the transaction will be 20.4%
"GFG has successfully built its position as market leader in online Fashion in many key emerging markets", says Oliver Samwer, CEO of Rocket Internet. "The recent funding round provides GFG with the necessary capital to continue on that path. We are looking forward to continuing to work with the GFG team as well as Kinnevik and the other GFG shareholders."
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About Rocket Internet
Rocket Internet builds and invests in Internet companies that take proven online business models to new, fast-growing markets. Rocket Internet focuses on five industry sectors of online and mobile retail services that make up a significant share of consumer spending: Food & Groceries, Fashion, General Merchandise, Home & Living and Travel. Its network of companies operates a variety of business models in over 110 countries on six continents with more than 36,000 employees at the end of 2015. Rocket Internet SE is listed on the Frankfurt Stock Exchange (ISIN DE000A12UKK6, RKET). For further information please visit www.rocket-internet.com.
This document contains forward-looking statements. These statements are based on the current views, expectations and assumptions of the management of Rocket Internet SE ("Rocket Internet") and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those described in such statements due to, among other things, changes in the general economic and competitive environment, risks associated with capital markets, currency exchange rate fluctuations and competition from other companies, changes in international and national laws and regulations, in particular with respect to tax laws and regulations, and other factors. Rocket Internet does not assume any obligations to update any forward-looking statements.
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