Global Fashion Group (GFG), fashion commerce company by Rocket Internet which also Zalora’s parent company, is rumored to IPO in Q1 2019, probably in March. The expected valuation is €1.8-2.5 billion (30-40 trillion rupiah). The biggest investor is Kinnevik.
According to Manager Magazin, Rocket Internet is in a position to IPO almost all of its startup entities in the last two years and GFG is said to be the last one. GFG is a unit of fashion commerce companies in various regions, including Dafiti, Lamoda, Namshi, The Iconic, and Zalora. Previously, they had sold the India-based Jabong to Myntra, a Flipkart’s subsidiary.
In Southeast Asia, Zalora is considered as the leading company in this industry. However, the tight competition has made them sold its business in Vietnam and Thailand, focusing the business in five Southeast Asia countries (including Indonesia), Hong Kong, and Taiwan.
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Original article is in Indonesian, translated by Kristin Siagian
